ZABG manager jailed for fraud

for defrauding the bank of more than US$140 000 through creating fictitious bank accounts.
Cletos Mahlatini would withdraw the money from the accounts and convert it to his own use.
Mahlatini, who was jointly charged with Munetsi Kanyimo, pleaded not guilty to 18 counts of fraud when he appeared before regional magistrate Mr Never Katiyo but he was convicted because of overwhelming evidence.
Kanyimo was acquitted on all counts while Mahlatini was convicted on 17 counts.
Mr Katiyo sentenced him to five years imprisonment of which two years were suspended on condition of good behaviour. A further one and half years were suspended on condition he restitutes US$116 155 on or before December 31 this year to ZABG.
Prosecutor Mr Editor Mavuto proved that sometime between January 19 and February 5 last year, Mahlatini hatched a plan to commit fraud. He then facilitated the opening of three accounts with ZABG using fake identity documents.
The syndicate would transfer money into the accounts purporting the amounts were due to the account holders.
They would then withdraw the money through cash withdrawal or in the form of bank transfers in favour of Redan Petroleum.