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Bank employee in US$1m scam

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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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