US$2m suspected fraudster gets bail
COMMERCE Veritas chief executive, Martin Tswarai Mutenda, who allegedly defrauded the son of the late Cabinet Minister and national hero, Joel Biggie Matiza, of US$2 million emanating from a botched business deal, was granted $500 bail on Tuesday.
Mutenda (55) appeared before Harare regional magistrate Mrs Marehwanazvo Gofa.
He was ordered to surrender his passport and will return to court on June 14, pending finalisation of investigations.
The complainant, Mr Batsi Matiza (26) was appointed executor of the estate of his late mother, Mrs Lillian Matiza.
Prosecutor Ms Mercy Masamvi alleged that in June 2022, Mutenda, who was already in the construction business, purported to enter into a business partnership with the late Mrs Matiza.
In the agreement, Mutenda misrepresented to Mrs Matiza that herself, Jorome Leroy and Taurai Negonde, would become directors of the company and that he would be appointed company secretary.
Mrs Matiza would be given a payment of US$2 million at the end of the construction project.
In exchange for this, Mrs Matiza would provide a pneumatic roller, paver, a roller and office furniture, which she took from her company called Studio Arts (Pvt) Ltd.
Mrs Matiza died in November last year and her estate was registered with the Master of High Court, and Mr Batsi Matiza was duly appointed as the executor of the estate.
In December last year, Mr Batsi Matiza approached Mutenda asking him to transfer the money due to his mother to the Biggie Joel Trust, where he and his siblings are beneficiaries, but Mutenda refused.
Investigations revealed that Mutenda had misrepresented the structure of the company and payment of the US$2 million.
As a result of his actions, the complainant suffered a total prejudice of approximately US$2 million and nothing was recovered.