THE chief finance officer at Aquarium Mine in Gweru appeared at the Harare Magistrates’ Court yesterday charged with swindling a South African investor of $3,515 million under a botched share purchase deal.
BY DESMOND CHINGARANDE
Energy Ndonga (53) was granted $200 bail and magistrate Barbara Chimboza remanded him to April 30.
The State alleges that sometime in September 2012, Ndonga and his alleged accomplice, Talep Mohamad, a managing director at Aquarium, who is already on remand over the same fraud charge, swindled the complainant, Tamira Overseas, after indicating that they were looking for a loan to develop their mine.
The State alleges the complainant extended a loan of $400 000 to Mohamad and the duo converted the money to their own use.
In an alleged bid to cover up their tracks, Ndonga and Mohamad gave false updates through emails to the complainant, resulting in the latter releasing an additional $400 000 loan on May 6.
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The State further alleges that the duo misrepresented again to the investor that they were selling 48 company shares for $715 000 and promised to process all the paper work for Tamira Overseas to make the complainant the major shareholder.
As a result of misrepresentation, the complainant paid $715 000 for the shareholding in the share purchase agreement with Ndonga based on Mohamad’s promise to process relevant papers.
Ndonga and Mohamad allegedly further requested the complainant to inject another $2 million since it was to become a major shareholder.
It is alleged the complainant agreed to the request basing on the misrepresentations made by Ndonga and they entered into a written agreement where the money was said to be specifically for the development and operational costs for a new project named Malaya 30.
The offence came to light at the end of 2014 when the complainant engaged auditors who discovered the alleged fraud after noting that there was no development at Malaya 30 as the complainant was made to believe.
The State alleges the complainant suffered a total prejudice of $3 515 000 and nothing was recovered.