Finance manager sentenced to 10 years in prison for 175 counts of fraud amounting to $302 million

The hostility between the two parties has escalated

Bongokuhle Moyo, Online Reporter

A MAN has been jailed 10 years for 175 counts of fraud that amounted to ZWL$302 million in a case where he swindled the Zimbabwe Revenue Authority (Zimra) and Securities Exchange of Zimbabwe (SECZim).

The man Kudakwashe Simon Vukomba was sentenced by Harare Magistrates’ Court on March 11 2024.

In a statement on X, the National Prosecuting Authority of Zimbabwe(NPAZ) said: “Kudakwashe Simon Vukomba was employed as a Finance Manager by the complainant, Morgan and Co between the period of 2021 and 2022.”

“Vukomba was assigned to pay taxes and fees to statutory bodies such as Securities and Exchange of Zimbabwe (SECZim) and Zimbabwe Revenue Authority (Zimra).

“He would raise requisitions for the payments, have them signed off before making the payments online. Whilst on the internet banking platform the accused person would change the account numbers of statutory bodies and replace them with his own company accounts or those of his friends and make the transfers accordingly”, said the NPAZ

The offence came to light after SECZim made a follow-up of outstanding payments

“He was sentenced to 10 years imprisonment on the 11th of March 2024. Three years were suspended for five years on condition of good behaviour. A further four years were suspended on the condition that the accused person pays back ZWL302 million to the company. He will serve three years effectively”