Online Reporter
Prosper Dembedza
Herald Correspondent
THE trial of former director of Farevic Systems, Shingai Faranisi, continued yesterday with him pleading not guilty to allegations of defrauding his employer of ZWL$3 240 000.
In his defence, Faranisi denied any wrongdoing as outlined in the State’s case.
According to the prosecution, on September 29, 2022, the shareholders of Farevic Systems held a meeting where they agreed that Duduzile Mungure would be a signatory on all company bank accounts alongside Faranisi.
It was also stipulated that for any transaction, both signatories must sign a card containing their signatures and adherence to specific signing instructions at FBC Bank.
The court heard that on October 27, 2022, Faranisi allegedly went to the Victoria Falls branch of FBC Bank and withdrew ZWL$3 240 000 from Farevic Systems’ account, transferring the funds to Tambwari Logistics without the knowledge or consent of the other signatory.
As a result of Faranisi’s alleged misrepresentation to the bank, the company suffered a loss of ZWL$3 240 000, and no funds were recovered.
Faranisi is being charged with acting unlawfully in this matter.
