Online Reporter
Zvikomborero Parafini
Cornerstone asset management’s fund manager, Challenge Dondo was yesterday dragged to court charged with fraud
Dondo was not asked to plead when he appeared before Harare regional magistrate Marewanazvo Gofa.
He was released on US$200 bail and was ordered to continue residing at his given address, not to interfere with witnesses and to report once a week on Fridays at CID CCD. The complainant is Cornerstone Asset Management represented by its director Tafadzwa Herbert Tumbare
Allegations are that between April and December 2023, Dondo received loan applications from Swiss Worx Private Limited and Kelsey Milli Private Limited seeking funding in form of cash from Cornerstone Asset Management.
Dondo allegedly crafted board resolutions and forged the signatures of the Chairman Sagie Naidoo and one of the directors Bruce Zungu both based in South Africa to facilitate approval by the CABS bank which is the custodian of Celestial Nominees account.
Dondo allegedly took his father’s Oliver Dondo’s title deeds for house number 15351 84th Close Sunningdale 2, Harare and used them as security to facilitate a loan application by Kelsey Milli Private Limited.
Acting on Dondo’s misrepresentation, Cornerstone deposited US$57 000 into Swiss Worx’s account and ZWG190 000 000 into Kelsey Milli and only ZWG$190 000 000 was recovered.
