Kingstons boss fraud trial set

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KINGSTONS HOLDINGS chief executive Brian Sedze, who is accused of swindling his employer of more than $136 000, is set to stand trial on Thursday next week at the Harare Magistrates’ Court.

CHARLES LAITON

Sedze appeared before regional magistrate Simon Rogers Kachambwa yesterday facing 35 counts of fraud, but the trial failed to kick off.

Charges against Sedze arose during a period preceding February 2011, when Kingstons Holdings owed the National Social Security Authority (NSSA) $43 552,54 for non-payment of statutory obligations.

The State alleges that on February 8 2011, NSSA obtained an execution order at the High Court against Kingstons for settlement of the said debt.

Sedze allegedly hatched a plan to defraud his firm and misrepresented to Kingstons Holdings officials that he had secured a financier called Rachet Investments, willing to lend the company $31 000 to service the NSSA debt.

It is the State’s case that the money was to be paid directly to NSSA and Sedze was the interface in the transactions.