Manager in court over US$3m scam

By The Standard and Newsday | Mar. 15, 2022 | 1 Min read

Muyambo was employed as the finance and administration manager and part of his duties included allocation of stands and preparing agreements of sale.

BY TREVOR MUTSVAIRO A MANAGER of a local company, Delatfin Engineering was arraigned before Harare magistrate Yeukai Dzuda yesterday on allegations of defrauding his employer of US$3 million.

Jacob Muyambo (47) was remanded in custody to tomorrow for continuation of bail application.

Muyambo was employed as the finance and administration manager and part of his duties included allocation of stands and preparing agreements of sale.

It is alleged that from August 2015 to March 2018, Muyambo defrauded Delatfin Engineering in connivance with five accomplices who are still at large.

He made double allocation of stands and would conceal information pertaining to the illicit transactions.

His accomplices allegedly assisted him to process sale agreements without the company getting paid for them.

Muyambo would take the fake agreements of sale and authenticate them for verification.

In 2021, an internal investigation and verification was done by the company which unearthed fraudulent agreements of sale, which bore Muyambo’s signature. The accused prejudiced the company of US$3 350 865,41 and nothing was recovered. Caroline Mutimusakwa represented the State.