Marondera businessman convicted of fraud

Tinotenda Nyahuma was convicted following a sting operation conducted by detectives from the Criminal Investigations Department (CID) Drugs and Narcotics unit in Harare on August 30, 2024.

Herald Correspondent

Marondera businessman Francesco Marconati has been convicted on three counts of fraud.

Marconati appeared before Harare Magistrate, Ms Ethel Chichera, and will be sentenced on Monday after his lawyer applied for bail pending sentencing.

The magistrate found Marconati guilty after the State proved that the businessman abused Eagle Italian Shoes’ money.

The State was asked to submit the amount in Zimbabwe Gold (ZiG) since the funds were paid in Zimbabwe dollar (ZWG).

According to the State, the accused admitted that he transferred local currency equivalent to US$100 000.

The complainant is Li Song, a shareholder and director of Eagle Italian Shoes, Private Limited Company.

Allegations are that on October 2, 2023, the accused person transferred ZWL100 million from Eagle Italian Shoes’ account to that of the Zimbabwe Parks and Wildlife Management Authority (ZimParks) without the knowledge of co-shareholders.

The transaction was for the payment of a lease for Ecis Investments Private Limited, trading as Mana Pools Lodge.

The company belongs to Marconati.

Li then made a police report.