Online Reporter
Prosper Dembedza
Herald Correspondent
Classic Superfoods (Private) Limited director Alvin Nyaradzai Mparutsa appeared in court yesterday on allegations of defrauding Empowerbank of US$160 000 in a botched loan facility.
Mparutsa (51) was granted US$1 000 bail and ordered to surrender his passport and not to interfere with State witnesses.
It is the State’s case that in May 2024, Mparutsa approached the complainant and applied for a loan facility of US$160 000 for Super C Group Limited (the second accused)’s working capital.
On May 31, 2024, Mparutsa entered into a formal written agreement with Empowerbank Limited for the loan facility and signed an acknowledgement of debt on that same date.
Before the loan could be disbursed, Super C Group Limited was required to provide assets as collateral.
It is alleged that Mparutsa misrepresented information to the complainant by providing a Hino Ranger (registration number ADR 1832), a Volvo FL6 (registration number ABL 0018), and a milling plant (serial number SYS Rof R70007) as collateral – properties that are registered under Classic Superfoods (Private) Limited, Super C Group’s subsidiary.
As a result of this misrepresentation, the loan application was approved, and the complainant transferred US$160 000 as per Mparutsa’s instructions.
The offence was only discovered when Mparutsa failed to service the loan, prompting the complainant to attempt to attach the properties provided as collateral.
Upon investigation, Empowerbank discovered that these properties were registered under Classic Superfoods (Private) Limited, not Super C Group Limited.
Consequently, the complainant suffered an actual loss of US$160 000, with no recovery made.
