Ginimbi denied bail in $3,5m fraud, money-laundering case

SOCIALITE and businessman Genius Kadungure, popularly known as Ginimbi, was yesterday denied bail by a Harare magistrate in a case in which he is accused of prejudicing Treasury of $3,5 million in a tax evasion scam.

BY DESMOND CHINGARANDE

Kadungure, who was represented by Jonathan Samukange, was not asked to plead when he appeared before magistrate Bianca Makwande, who remanded him in custody to November 30.

Makwande said although bail was a right, Kadungure committed a serious offence of fraud and there were reasons to believe he could flee to South Africa, where he has another home.

The ruling shocked both the defence and State counsels, who had not opposed the granting of bail of $1 000.

The court had to adjourn after the magistrate asked for surety of title deeds and Samukange volunteered to bring his own.

The complainant is Zimbabwe Revenue Authority (Zimra). Kadungure is being charged as the director of Piko Trading and Pioneer Gas.

It is the State case that from February 2009 to May 2016, Kadungure, with the intention of evading paying value-added tax, made a misrepresentation to Zimra that he had made total sales of $2 777 678 inclusive, instead of the actual $9 092 951.

The offence came to light when Zimra conducted an investigation into the activities of Piko Trading.

The State also alleges that in 2015, Zimra conducted lifestyle audits of socialites after observing their excessive expenditure, which was not matching with their tax declarations.

On March 2, 2016, Kadungure was interviewed and advised that he owns a residential property in Domboshava valued at $200 000, a Rolls-Royce motor vehicle valued at R4 million, a Bentley valued at $500 000, a Range Rover valued at R1,1 million, a Mercedes-Benz valued at R1m.

It is alleged Kadungure also advised Zimra that he owns furniture worth several thousands of dollars in Domboshava.

The State alleges Kadungure was asked to prove the source of his income, but failed.

Investigations by Zimra revealed that between January 2010 and December 2015, Kadungure did not declare income amounting to over $9 million from sales realised out of liquefied petroleum gas (LPG) and $1 191 713 being the value of the properties.

As a result, an income tax of $2 134 549 and $$306 866 were raised in terms of section 6 of the Income Tax Act, which he was supposed to pay to Zimra.

Kadungure allegedly violated sections of the Income Tax Act, which states that he was required to furnish or submit income tax returns.

It is alleged it was discovered that during the same period, Kadungure imported LPG from South Africa and Zambia.

He allegedly smuggled 5 298 000kg of the commodity valued at $672 533.

Sebastian Mutizirwa appeared for the State.

12 Comments

  1. he was sold out by ex-girlfriend zodwa simple conclusions

  2. The nigger is not the only crook in Zanu. There are quite a lot of corrupt pple in Zanu and why are they not brought to book??? Anyway, its just a waste of time as Zanu govt never jailed any of its members with deep pockets.

  3. That boy has more crimes than has been brought before the courts. Only time will tell. By the way all those who have bee duped by this chap, it is time to bring it out.

  4. NACIDO, it does not matter that the other ZANU criminals have not yet been brought to book, or may never. The important thing is that one by one they get exposed. Of course some will never. But that this is is coming out is still important.

  5. @Rico who told you Ginimbi is Zanu PF,,, talk sense.

    1. @Tafadzwa, and who told you, he is not Zanu pf? URI DUZV! WANZWA. DONT YOU KNOW THAT ALMOST ALL CRIMINALS IN ZIM ARE STAUNCH ZANU SUPPORTERS???

  6. @Tafadzwa, and who told you, he is not Zanu pf? URI DUZV! WANZWA. DONT YOU KNOW THAT ALMOST ALL CRIMINALS IN ZIM ARE STAUNCH ZANU SUPPORTERS???

  7. Comment…Dayi vose vasiri kubvisa mitero kuHurumende vasungwa, Hurumende igaita mari inowoneka gore rino risati rapera. Ndiye chete here? Kana kuti ndiye ega ane chakakura?

  8. fcxuksdiy!@gmail.com

    he seems to be afcuker of note !!

  9. just release the brother. everyone in ZIM is doing something illegal but at different magnitudes

  10. just release the brother everyone in Zimbabwe is doing something illegal but at different magnitudes.

  11. Obert Mpofu!

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