Sedco official suspended over fraud

The money was released to the corporation by the Ministry of Small to Medium Enterprises as loans to members who had submitted their applications for the funds to the ministry.
Sources said the fraud was discovered after applicants of the loans raised concerns on the delays in accessing the funds from the ministry.
Some of the applicants had reportedly applied for loans early last year but were yet to receive the money from the provincial office, a source said.

“A lot of applicants who applied for loans early last year were yet to receive their money. It later emerged that the funds had vanished while at the Sedco provincial offices.
“The applicants who were made to continue paying for admission and processing fees at provincial offices later called the national office and this was when the rot at the Sedco Midlands provincial offices was discovered,” said the source.

The sources said an internal audit team, which was asked to investigate the rot, later discovered that more than  $100 000 was missing.
“This led to the immediate suspension of the manager. The audit is still in progress and the manager is likely to face arrest for abusing Government funds after the completion of the audit,” said the source.
The manager at the centre of the allegations declined to comment when contacted yesterday.

Sedco general manager Mrs Gladys Kanyondo, who confirmed allegations of fraud at their Midlands provincial offices, however, declined comment over the suspension and possible prosecution of the manager.
Mrs Kanyondo said investigations into the allegations were going on.

“To comment over allegations levelled against one of our managers at the moment will be premature because we have since appointed internal  auditors to audit our books following reports of fraud and complaints from loan applicants.

“We will only be in a position to comment after the audit has been completed. What I can only say is that we have a zero tolerance to corruption and fraud at Sedco and this is why we have                                         sent a team to Gweru to conduct an audit,” she said.