Probe into late former ambassador, wife investment scam intensifies

Crime Reporter

Zimbabwean authorities and law enforcement agencies have intensified investigations into a case in which the country’s late former Ambassador to Belgium Hurudza Gift Punungwe and his wife were defrauded of nearly US$1,3 million through an investment scam sometime in 2000.

Ambassador Punungwe and his wife Mrs Runako Beauty Punungwe, were defrauded by Richard Kaye, a British national, who at that time was operating companies namely Thomas Barclay Group (TBG) and Lloyd Morgan Company (LMC) in Belgium and France.

The Ministry of Foreign Affairs and International Trade, the National Prosecuting Authority, and the Zimbabwe Republic Police have since roped in the International Criminal Police Organisations (Interpol) to assist in tracking down Kaye whose whereabouts are still not known although he is believed to be hiding in the United Kingdom.

It is alleged that Kaye, who claimed to be a broker, convinced the late ambassador to invest money amounting to US$214 233 into LMC.

He was allegedly acting in connivance with five other accomplices who have been identified as Professor David Mc. Kay O.B.E, Richard Kaye, Hendrik Vriesen, Erik Bjertnes Jr, Michiel Eyken-Slyuters, Penny Willis Jones (also known as Penelope Slan Kaye).

On June 1, 2001, Kaye is alleged to have written to Ambassador Punungwe giving him a personal guarantee of the safe return of the money.

After the death of Ambassador Punungwe, Kaye issued Mrs Punungwe new share certificates in her name.

According to investigations, as at October 28, 2013, the investment in LMC stood at US$739 33,76 and EUR 661 714 07.

In 2009, Mrs Punungwe submitted a request to LMC to redeem her investments but Kaye and his accomplices failed to pay back the funds and interest.

Kaye then posted information on the internet that Lloyd Morgan Limited and Thomas Barclay Limited had been dissolved and that he had become an employee of YAHPE Limited, as a director or commodity broker. Kaye and his accomplices have residences in England, France and the US.

Preliminary investigations conducted in London revealed that the share certificates issued by the company were fake and that Kaye had misrepresented to the late Ambassador Punungwe.

Mrs Punungwe then approached the Ministry of Foreign Affairs to have Kaye arrested and her investment and earnings recovered.

She also reported the matter to the Zimbabwe Republic Police, who roped in Interpol. Following the report, she also approached the National Prosecution Authority (NPA) which prepared a Mutual Legal Assistance (MLA) Request to the USA since LMC was purported to be operating from New York.

Another request was sent to England, as Kaye had a registered residence in London, with the last request submitted to France because he has a registered residence in France.