Online Reporter
Prosper Dembedza
Herald Correspondent
FORMER Farevic Systems director Shingai Faranisi has been convicted of fraud after a Harare provincial magistrate found him guilty of defrauding his former employer of ZWL$3,24 million.
Harare provincial magistrate Ms Jacqueline Gara convicted Faranisi following a full trial and remanded him to tomorrow for sentencing.
The court heard that on September 29, 2022, shareholders of Farevic Systems held a meeting at which they resolved that Ms Duduzile Mungure would become a signatory to all the company’s bank accounts together with the accused.
It was further agreed that for every transaction made at the bank, both signatories should sign a signature card and samples of signatories and signing instructions were held at FBC Bank, stating that both signatories should sign on any transaction.
The court heard that on October 27, 2022, the accused went to FBC Bank, Victoria Falls branch and withdrew ZWL$3 240 000 from Farevic Systems account number 6127544780478 and transferred it to Tambwari Logistics account without the knowledge or consent of the other signatory of the company.
As a result of Faranisi’s misrepresentation to the bank, the company suffered a total prejudice of ZWL$3 240 00 and nothing was recovered.
