BY TREVOR MUTSVAIRO ZIMBABWE National Parks and Wildlife Management Authority (ZimParks) spokesperson Tinashe Farawo has been defrauded of US$7 500 in a botched joint partnership with Steeltag Investments to purchase maize.
This emerged yesterday when Steeltag Investment director Terrence Madiro (40) appeared before Harare magistrate Ruth Moyo to answer to fraud charges.
He was remanded in custody to August 17 for a trial date.
Allegations are that sometime in July and August 2020, Farawo and his brother engaged Madiro to buy maize, and package it as maize meal for resale.
Court papers state that the terms of the agreement were that Farawo and his brother would pay a sum of US$7 500 as initial capital within a period of two weeks.
The terms of the joint partnership indicate that the money would be returned, and the profit would be re-invested into the business, while proceeds would be shared as profit at 50% for the initial six months.
Madiro was sent a total of US$7 500 through World Remit since the complainant was outside the country.
Three months after the deal the project never materialised with Madiro keeping on giving excuses and empty promises.
- Chamisa under fire over US$120K donation
- Mavhunga puts DeMbare into Chibuku quarterfinals
- Pension funds bet on Cabora Bassa oilfields
- Councils defy govt fire tender directive
Keep Reading
Pardon Dziva prosecuted.
- Follow us on Twitter @NewsDayZimbabwe
