Saturday, October 31, 2020

Senior police officer, employee hit Zimbabwe’s POSB bank with $158 million fraud

-

A People’s Own Savings Bank (Posb) employee is accused of conniving with a senior police officer and a vendor to tamper with the bank’s system and transferring different amounts defrauding the bank of $158 million in the process.

Mercy Meda (34) who was stationed at Causeway Building, Assistant Inspector Tawanda Martin Mavhiya (40) and John Nyika (26) allegedly tampered with the POSB banking system.

The trio, who were represented by lawyers Paida Saurombe and Obey Shava yesterday appeared before Harare magistrate Ms Barbra Mateko charged with fraud.

Alternatively, they were charged with unauthorised access to or use of a computer or network. The trio was not asked to plead to the charges.

The State led by Mr Lancelot Mutsokoti opposed to granting of the trio’s bail saying they were a flight risk.

- Advertisement -

Mr Mutsokoti also told the court that there was overwhelming evidence against them in the form of receipts of items purchased from proceeds of crime and cellphones used in the commission of the alleged crime.

The State also claims to be in possession of text messages between them when planning to commit the offence.

Meda, through her lawyer Saurombe, told the court that she was not linked to her co-accused.

She also told the court that she was sleeping at home at the time when the offence was allegedly committed.

- Advertisement -

Mavhiya and Nyika, through their lawyer Shava, told the court that they were not a flight risk.

Mavhiya said he was about to resign from the police service after serving 19 years.

He said he cannot afford to lose his pension and benefits by running away from a weak case.

Magistrate Mateko remanded the trio in custody to today for bail ruling.

Circumstances leading to the trio’s arrest are that they connived with four others who are still at large, to defraud POSB.

In pursuant to their plan, on June 13 Meda allegedly made a $32 million deposit into Mavhiya’s bank account.

On the following day, Mavhiya and Nyika went to TM Supermarket in Borrowdale, OK Supermarket in Harare’s city centre and Spar Sam Levy where they purchased groceries worth $6 768.

Meda is also alleged to have deposited $30 000 into Audrey Nhokwara, Harzel Makarawu, Tanaka Trevor Muradzi and Chipo Fifteen’s bank accounts.

On June 15, the POSB international banking manager, Caroline Magonera, reconciled transactions that were made on June 13 on the general ledger account.

The court heard that Magonera noted that there were some transactions with high values, which had irregular sources.

Magonera is said to have notified the POSB authorities who then managed to reverse $156 690 000 from five accounts.

On the same day, Mavhiya and Nyika were arrested, leading to the recovery of groceries worth $4 264, 68.

- Advertisement -

MUST READ

Actress Lori Loughlin begins 2-month prison sentence for role in college admissions scam

Actress Lori Loughlin reported to a federal prison in Northern California on Friday to start a two-month sentence for her role in a massive...

FirstEnergy fires CEO, other executives over Ohio bribery scandal

FirstEnergy Corp. has fired its CEO amid multiple federal investigations related to an Ohio nuclear bailout law passed year. The Akron-based utility company announced in a...

Ukraine’s court strips critical power from anti-corruption agency

Ukraine's Constitutional Court has stripped the country’s anti-corruption agency of some of its critical powers. The high court’s ruling published on October 28 declared it...

Former South Korean President Lee Myung-bak sent back to prison for 17 years in corruption case

Former South Korean president Lee Myung-bak was ordered back to prison on Thursday (Oct 29) as the country's Supreme Court upheld a 17-year jail...

Nigerian court declines to issue international arrest warrant for fugitive ex-Petroleum Minister in corruption case

The Abuja Division of the Federal High Court, on Wednesday, refused an application by the Economic and Financial Crimes Commission, EFCC, for an arrest...

Subscribe For More

Get our daily notification on the latest financial crimes news around the World

Advertisement
Advertisement

Latest News

This Week

Greek ex-minister Tsochadzopoulos, wife sentenced for money laundering

Former minister Akis Tsochadzopoulos, his wife and his cousin were found guilty of money laundering by a criminal appeals court on Tuesday. Each was served...

Namibia probes oil firm Acer petroleum over bribes paid to government officials

THE mines and energy ministry says it is investigating allegations that an oil company bribed some senior officials to fast-track licence applications. The senior officials...

Ukraine’s court strips critical power from anti-corruption agency

Ukraine's Constitutional Court has stripped the country’s anti-corruption agency of some of its critical powers. The high court’s ruling published on October 28 declared it...

Former DEA spokesman sentenced to 7 years for posing as CIA agent to scam $4 million

A former spokesman for the Drug Enforcement Administration (DEA) was sentenced to 7 years in prison Wednesday for posing as a CIA agent on...
Advertisement

Adblock Detected!

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by whitelisting our website.

Enable Notifications    Ok No thanks