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A Modern Niche Digital Consulting Africa director appeared in court for allegedly defrauding FBC Bank of more than $27 million.
Mark Tanyaradzwa Maraire was granted $100 000 bail when he appeared before Harare magistrate Evelyn Mashavakure yesterday.
The State alleges that on August 11 last year, FBC Bank engaged Modern Niche Digital Consulting for an email security licence renewal.
It is alleged that Maraire submitted a quotation of $27 875 850 saying they had the capacity to offer the services, and the two parties signed an agreement.
Acting on the misrepresentation, the bank transferred the money into the Modern Niche Digital Consulting Africa FBC bank account.
The State said FBC stated that the money was to be used to apply to the RBZ Auction and pay for proof point security system services.
Instead, Mararire through his company converted all the money to his personal use and nothing was recovered.
Essel Zinhiva represented the State.
Online Reporter