Another Lasch director in court

Court Reporter
Another Lasch Enterprises (Pvt Ltd) boss has been arrested and brought to court on allegations of fraud and money laundering after he swindled 120 farmers of over $27 497,07 through a dubious farming input scheme. Last week, seven other Lasch directors and Zanu-PF Youth League director Tapiwa Zengeya were arrested on the same allegations. Lovemore Machanzi (60) yesterday appeared before magistrate Mr Milton Serima who remanded him to January 29 on $500 bail coupled with stringent conditions. His alleged accomplices are Zengeya (48), Evans Simbarashe Zininga (34), Patience Chipere (38), Christopher Tegwe (46), Fungai Mudondo (38), Shiella Taderera (40), Stephene Mapfumo (43) and Charles Mashumba (46) who are already on remand.

Two other Lasch officials, Nelson Mahupete and Christina Madakudya, are yet to be arrested. They are alleged to have used the money to buy personal vehicles. Prosecutor Mr Sebastian Mutizirwa alleges that sometime in July, Lasch officials formed a joint venture with the Zanu-PF Youth League purportedly for the supply of agricultural inputs such as fertiliser, seed and chemicals to A1 farmers on credit. The group recruited district co-ordinators who mobilised complainants to pay $36 as joining fee, $29,60 per hectare as insurance fee and $5 Arex fee which was payable direct to Arex offices. The complainants were directed to deposit the joining and insurance fees into Lasch’s CBZ bank account. 0714549137 0733561020

Between July 17 and December 11, the complainants made several deposits into the company’s bank account. The court heard that $1 010 996,10 was deposited into Lasch’s bank account, but only $587,44 reflected in the account as of December 16.

The State is alleging that the gang withdrew the funds and bought vehicles.

When the complainants approached Lasch in November to facilitate delivery of their inputs, they failed.

The matter was reported to the police leading to the gang’s arrest. According to the State, the 120 complainants have been prejudiced of $27 497, 07 for now and nothing was recovered.