adminVictoria Falls Reporter
A Victoria Falls businessman has been arrested for allegedly swindling his business partner of close to $130,000.
Tonderai Chakamanga, 28, who had ventured into fuel dealing business at Zambezi Service Station in the resort town in partnership with Hertnesh Patel, has since appeared in court charged with two counts of concealing a transaction worth a total of $128,165.61.
He is allegedly still holding Patel’s title deeds to three of his properties in Victoria Falls Town which he obtained after misrepresenting that they were wanted as collateral for their business by some banks and supplier, the court heard. Chakamanga who is represented by Liberty Mcijo of Mcijo and Dube Legal Practitioners has pleaded not guilty.
Magistrate Sibongile Msipa granted Chakamanga $300 bail with stringent conditions.
She ordered him to reside at his Burnside house along Broadbills Road, not to travel 40KM outside Bulawayo without police clearance, not to visit Victoria Falls or the fuel service station, and to report once a week every Friday at Hillside Police Station until the matter is finalised. The court also froze his three bank accounts with CBZ, Allied Bank, and Stanbic Bank.
The state had opposed bail saying Chakamanga was a flight risk because of the seriousness of the crime and that he had no valuable assets but the magistrate ruled that there were no grounds of denying the accused bail for the purposes of investigating further.
Kudakwashe Jaravaza for the state said Chakamanga who used to stay in Chinotimba in Victoria Falls was in charge of day to day business while Patel financed procurement of fuel. Chakamanga allegedly converted part of the business money to his own use.
Allegations are that on April 1, this year, Chakamanga realised a total of $391,796.39 from the fuel business and collected rentals amounting to $6,825 from Patel’s properties but only banked $306,552, after concealing profits which he converted to his own use.
The crime came to light when Zuva Petroleum approached Patel demanding outstanding payment for fuel supplied and it was discovered that Chakamanga had been converting the money to his own use after an internal audit. It was also established that the accused would allegedly raise forged expenses vouchers claiming that his business partner had taken some of the money, which Patel denied. Chakamanga returns to court on June 24, for start of trial.
derick.khumalo