A plot to swindle local company Adelcraft Investments Pvt Ltd turned sour and landed a Harare man in custody.
Munyaradzi Gonyora attempted to swindle US$1.3 million and was yesterday arrested facing allegations of fraud, forgery, money laundering and illegal externalization of foreign currency.
His co- accused, an Israeli investor Gilad Shabtai, is still at large.
The matter is being investigated under reference number DR44/08/21.
Shabtai and Gonyora are both non-executive directors at Adelcraft Pvt Limited.
The duo are accused of desperately trying to grab control of Adelcraft Pvt Ltd, it is alleged .
Adelcraft majors in the hiring out of heavy earth moving equipment and one of its major customers is the Zimbabwe Consolidated Diamond Company (ZCDC) operating from Chiadzwa in the period between 2016 to 2020.
Information at hand shows that Shabtai lent money to the company with the view of recapitalization and both parties entered a loan agreement registered with the Reserve Bank of Zimbabwe standing guided by exchange control regulations.
Under the agreement, Shabtai was obliged to be appointed as a non-executive director in 2015 along with Munyaradzi Gonyora and Claudious Nhemwa.
It is further alleged that sometime this year, Gonyora and Shabtai connived to open a new GetBucks MicroFinance Bank Limited company account without the knowledge of all directors and diverted more than US$$1, 3 million for personal use.
According to investigations, in March this year, Shabtai wrote a letter to the ZCDC chief executive requesting to take over negotiations for payment of outstanding amounts due to the company in his personal capacity.
In April, Shabtai further wrote to one Charles Gobvu the Chief Financial Officer of ZCDC and instructed him to redirect all payments to the GetBucks account.
More than US$1, 3 million that was due to the company, was processed into the new bank account held with GetBucks.
However, it is alleged that the instruction was on a forged letterhead of the company.
According to investigations, the payments into GetBucks were not accounted for in the official company books and no invoices were raised against such payments in contravention of the tax laws in Zimbabwe a development that is tantamount to tax evasion.
It is alleged that Shabtai and Gonyora misappropriated the amounts received and used them for personal usage.
Apart from forgery, investigations revealed that the duo has also been abusing the RBZ forex offshore auction payment system where they siphoned over R13 million to South Africa into Shabtai’s company using the central bank’s forex auction payment system.
Zim Morning Post is in possession of the police charge sheet and Gonyora is still in police custody.