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Yeukai Karengezeka
Court Correspondent
Defrauding a mining company of US$122 000 has landed a Harare man in the dock after misusing funds to buy 150 tonnes of copper ore last year.
James Daniel Mckey appeared before Harare regional magistrate Mr Stanford Mambanje on Friday charged with theft of trust property and was remanded out of custody on $300 000 bail to June 8.
The complainant is Formanix Mining Resources company being represented by its finance manager, Siu Hang Chan.
The State alleged that in April last year Formanix contracted Mckey to buy copper ore on its behalf, with Mckey getting 30 percent of the profit after processing and sale of the mineral.
Formanix paid Mckey US$122 680 cash last year, US$55 000 on May 19, US$37 680 on June 8 and US$30 000 on June 27 respectively to Mckey to purchase 150 tonnes of copper ore.
However, Mckey allegedly never supplied the copper ore as required of him and he converted the money to his own use.
Formanix made a follow up for the copper ore, but Mckey failed to produce the ore and also failed to account for the money. So the company reported the matter to the police leading to the arrest of Mckey.
Online Reporter