Bank employee in US$1m scam

money-bfd23d652dab594d02ebb3ccb3cd41b4329dbe94-s6-c30Fungai Lupande Court Reporter—
BancABC international banking officer Francis Nhamoinesu allegedly manufactured fake bank papers to assist EarthClean Trading (Pvt) Ltd conceal more than US$1 million in a botched gold-buying deal with a Cyprus-based company. Nhamoinesu (32) of Mainway Meadows, Waterfalls, in Harare appeared before Harare magistrate Mr Donald Ndirowei facing fraud charges. Mr Ndirowei denied Nhamoinesu bail and advised him to apply at the High Court.
In opposing bail, prosecutor Mr Farai Gatsi said Nhamoinesu was a flight risk.

“Accused hacked a client’s account facilitating the fraudulent transactions,” he said.
“If released on bail he will seek refuge with his accomplices who are still at large.”

Mr Gatsi told the court that Nhamoinesu’s duties included management of clients’ bank accounts and facilitating international transfers.
The complainant in the matter is Cyprus-based company Taira Services Limited, represented by its director Mr Yasef Alfosi.

It is alleged that on November 16 2012 a memorandum of sale and purchase of gold was entered between a Zimbabwean company EarthClean Trading (Pvt) Ltd and Taira Services Limited.

At the time of the agreement, EarthClean Trading (Pvt) Ltd was represented by Muneer and Raziya Kazi, who are still at large, while Mr Alfosi represented Taira Services Limited.

The terms of the agreement were that EarthClean Trading (Pvt) Ltd would sell gold to Taira Services Limited and the company would deliver the gold to Taira Services Limited’s sister company, DZ Trading, in Dubai after payment of all taxes, it is alleged.

The court heard that on August 23 2013 Muneer and Raziya received US$1 006 088 from Taira Services Limited through EarthClean BancABC account number 11635325502012 for the purchase of gold.

The money was transferred from DZ Trading, Dubai, but Muneer and Raziya failed to deliver the gold, converting the money to their personal use.
In an effort to deceive Taira Services Limited and conceal the offence Muneer and Raziya engaged Nhamoinesu to raise fraudulent bank transfers with false swift code details.

Muneer and Raziya wanted it to appear as if they had transferred back the money into Taira Services Limited, the court heard.
It is alleged that Nhamoinesu supplied forged ducuments to Taira Services Limited who later verified them with BancABC and found that they were fake.
Complainant suffered a prejudice of US$1 006 088 and nothing was recovered.

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  • Ndareva

    Ndozvazvinoita kuita business through a middle man.Why did they not ask to see the gold first?

  • Ndareva

    Nhamoinesu zveshuwa nhamo inewe! uchafira mujeri nekukara mari! apa basa rapera. Ndiani anoemployer a fraud?

    • hwezha

      waiti zvichasvikepi nhai Nhamo?

  • Cde Mzvinavhu(Prof)

    Corruption or fraud is always found across all sectors of our economy ! The difference is that in the private sector when it happens culprits are brought to book timely! Our country can do better if the culprits in the public sector are also brought to courts in good time so that they are proved clean or dirty in courts of law. Their cases should not just be press -reading material for povo Zimbabweano! We should not just be leading in literacy in Africa , but also in how we conduct our corrective measures on culprits! Corruption and fraud are enemies of hardworking in any country!

  • Madzibaba Ishmael

    At least he wasn,t defrauding the ordinery pple.

    • chiendambuya

      also wonder how much he made?

  • tawas

    this is not corruption but this guy called nhamoinesu is a foolish banker and i sense that he lacks maturity and experience.i understands that not all are banker in nature
    he is not a banker at all, a real banker knows risks associated with this fake dealers, we knew their tricky you never win nhamoinesu what they did is they came like good people but when it comes into this hodo mun’in’una mari isiri yako istationery haisi yako that fast life now you might spend the rest of life in jail if you are not clever
    we arge the the recruiter consider experience and maturity even they are not all are banker , a banker is a tallent that one is posessing not all people have that tallent

    • Theobanker

      Stupid banker indeed … that was a poor and shallow way to fake a transaction… especially international banking transfers… these poorly skilled current bankers leave a lot to be desired…bankers should be ethical and prudent…

  • Chanhuwa chii?

    Nhamo inesu….the name says it all. Wakabatiswa matoto pasina mvura anavana magen’ga pa-Harare othewise mazita ese aya ndeemombe chii chinonzi chinonzi Muneer and Raziya kazi? Unofira mafufu segonzo iwe mutorwa iwe.

  • Tamuka

    Sorry hake, hope he reaped something out of the whole deal

  • Vanoba Samare

    His first name is Hardlife, I went to school with this guy – such a dim wit

  • Mambo

    This report is very untrue. No money was lost here. The truth of the matter is that the local EarthClean guys were trying their luck to dupe Taira Services by submitting fake documentation to the bank’s Exchange Control unit through this unfortunate young inexperienced banker, who was very unfortunate that his supervisor did not do their work as well. The claim is now on value of revenue that was meant to be realised by Taira guys from this deal. The issue remains whether Nhamo was part and parcel of the fraudsters or he was just caught in the crossfire due to lack of experience to know fake or genuine documents. This happened late last year. If money was lost here the bank was liable as Nhamo’s employer but no money was lost or stolen as alleged in the report. Good luck young man.