Online Reporter
Zvikomborero Parafini
Court Reporter
A HARARE businessman appeared in court facing extortion, fraud and money laundering charges after allegedly duping a pharmaceutical company director into transferring over US$663 000 under the guise that the money was needed for Independence Day celebrations.
Joseph Kanyekanye (58), who initially appeared in court over the weekend, was back in court yesterday, where he filed his bail application before magistrate Ruth Moyo.
The State alleges that between March and April this year, Kanyekanye and his alleged accomplices, who are still at large, pressured Pharmaceutical and Chemical Distributors director Shar Prashanta into releasing funds purportedly meant for senior Zanu PF officials ahead of Independence Day celebrations held in Maphisa.
Prosecutors allege Kanyekanye claimed President Mnangagwa had approved the disbursement of the money despite allegedly knowing that the contract between himself and Mr Prashanta had already been terminated.
The court heard that Kanyekanye allegedly threatened Mr Prashanta with unspecified consequences if he failed to release the money, including possible prejudice to his business interests and future approvals from Government.
According to the State, Mr Prashanta eventually transferred US$663 480,75 from a trust account into a CBZ account allegedly supplied by Kanyekanye.
In the fraud charge, prosecutors allege Kanyekanye used a forged letter purportedly signed by President Mnangagwa and addressed to the Permanent Secretary in the Ministry of Finance and Investment Promotion requesting payment of Treasury Bills.
The State alleges Kanyekanye later presented the letter to ministry officials purporting to act on the President’s instructions, despite allegedly knowing that the contract had lapsed and the document was not genuine.
It is further alleged that Treasury officials, acting on the alleged misrepresentation, authorised the release of US$1,8 million into Mr Prashanta’s account, believing the payment had been approved by the President’s Office.
Mr Prashanta allegedly transferred about half of the money, amounting to US$884 641 to his lawyers’ trust account before part of it was allegedly channelled to Kanyekanye.
On the money laundering charge, prosecutors allege Kanyekanye concealed the origin of the funds by transferring the money through third-party accounts after receiving it through criminal conduct.
The State says nothing has been recovered.
