adminshareholder’s name to the stockbroker.
Edgar Marisa (45) of number 40 Kafudzamombe Road, Mufakose Harare and Lisbon Munyangadzi (26) of Unit A Seke Chitungwiza appeared before magistrate Mr Donald Ndirowei facing fraud charges.
They were not formally charged with fraud and were remanded in custody to December 28.
The complainant in the matter is FBC Securities represented by loss control manager Mr Ngobson Bandirai.
Prosecutor, Molyn Mutamangira alleges that on November 10 Marisa and Munyangadzi planned to swindle FBC Securities.
The duo planned to fraudulently sell Mr Tongai Mukanganise’s 267 700 Delta shares. The two, forged a driver’s licence number 32541AA and inserted Marisa’s passport size photo while other details that remained belonged to Mr Mukanganise.
Using the fake licence the duo opened an Interfin Bank account number 1701243981150 in Mr Mukanganise’s name.
They also registered a Telecel line number 0735 867 736 for communication during the crime.
Marisa and Munyangadzi later approached Corpserve Share Transfer secretaries, says the State.
Marisa, masquerading as Mukanganise, applied for the replacement of share certificate.
He allegedly misrepresented that he was using a driver’s license because he had lost original documents.
Corpserve Share Transfer employees believed Marisa and replaced the share certificate.
The pair allegedly took the share certificate to FBC Securities (Pvt) Ltd along Samora Machel Avenue where again Marisa masqueraded as Mr Mukanganise.
He gave the instruction to sell the shares and transfer the money into the Interfin Bank account.
FBC brokers sold the shares for US$195 000 on the Zimbabwe Stock Exchange and the money was transferred into Interfin account.
On November 19, the pair withdrew US$5 000 and another US$60 000 on November 21.
The offence came to light when Mr Mukanganise tried to sell his shares through Kingdom Stock Exchange.
He was told that his share certificate had been replaced and the shares were already sold through FBC stockbrokers. Mr Mukanganise suffered US$195 000 prejudice and only US$130 000 was recovered.
Online Reporter
Farai