Four directors of Zvimba East Veterans Company were brought before Harare magistrates courts recently facing allegations of defrauding the entity of US$13 000 through forgery.
Douglas Mandaza (57), Clifford Rutsate (68), Joel Samuel Muzhamba and (76) Michael Changadzo (66) were represented by Leon Muringani when they appeared before Harare magistrate Lisa Mutendereki for trial continuation.
Circumstances are that in 2023, Zvimba East Veterans Investment Company was formed comprising 14 directors including the accused persons.
The court heard that all withdrawals of any money from the bank were only authorised by the chair or vice-chair and any other two signatories.
On January 2 this year, the accused allegedly defrauded the company by unlawfully removing five other directors from the CR6 of Zvimba East Veterans Investment Company and left nine directors.
They submitted the forged CR6 Form to the bank and successfully changed the signing arrangements.
The complainant went to the bank and discovered the offence before making a report to the police, leading to arrest of the accused. The matter was postponed to October 30 for trial continuation.
- War vets company duped US$13K
