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Yeukai Karengezeka
Court Correspondent
A Human resources manager from Harare, Tinashe Madzima has appeared in court on charges of creating fictitious employee accounts to defraud three microfinance companies.
He appeared before Harare magistrate Mr Norman Banda on Tuesday and was granted US$300 bail.
According to the state prosecutor, Mr Rufaro Chonzi, Madzima approached his employer, Livetouch Investments Private Limited, with a proposal to provide loans to employees through microfinance companies.
When the company agreed to the idea, Madzima allegedly went rogue and created eight ghost employees to defraud Probfix Financial Services.
Madzima also went to Mountfin Finance and Ergoflex finance, micro finance companies and successfully applied for loans for the eight ghost workers using the same documents.
The court also heard that Madzima allegedly drafted a fake Board Resolution and Memorandum of Understanding documents on July 9 and copied the signatures of the company’s chairman Feng Wang and ceo Dongning Wang without their knowledge.
He also created a fake date stamp to authenticate the documents.
Madzima successfully applied for loans for the 18 legitimate employees and pocketed the loans for the eight ghost workers.
The scheme was uncovered on October 11 when microfinance companies contacted Livetouch Investments about loan payments for the ghost workers
Online Reporter