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Court Correspondent
Arrested company director Munyaradzi Gonyora was on Monday granted free bail by Harare magistrate Mr Dennis Mangosi barely a month after he was arrested for fraud involving US$1,3 million.

He was represented by lawyer Admire Rubaya.

Gonyora, a non-executive director with Adlecraft Investments (Private) Limited, faces fraud charges.

It is alleged that he and Belinda Shumirai Mutengwa and Gilad Shabtai decided to steal money from Adlecraft Investments.

They allegedly opened a conduit account with Getbucks, without Adelcraft board approval.

Mutengwa allegedly opened this account without following all the requirements for opening a corporate account, and in particular without the knowledge of director Offer Sivan.

It was further alleged that on March 18, and without the authority of either the board or shareholders, Shabtai wrote a letter to the CEO of Zimbabwe Consolidated Diamonds Company, a company that owed the Adlecraft money, asking requesting that the money be deposited into the Getbucks account.

Shabtai and Gonyora are alleged to have transferred money from the Getbucks account into a South African registered account with Investec Bank, belonging to Shabtai’s company purporting to be paying for mining equipment that had already been paid for.