Africa-Press – Zimbabwe. Former ZANU PF youth leader Lewis Matutu appeared in court on Tuesday on charges of fraud involving US$150,000.
Matutu is accused of stealing shares from Shusib Investments, a local mining company.
He was arraigned before Harare Magistrate Isheanesu Matova but was not asked to plead and was remanded out of custody on free bail.
Matutu allegedly conspired with Blessing Kusangaya, Tafadzwa Kusangaya, Muzimba Muhamba, and Chikwasha Muhamba to execute the fraud.
The group reportedly prepared and backdated annual returns dated April 30, 2018, which were backdated to 2014, 2016, 2017, and 2018, forging the signatures of the complainant and a third party, Lyton Shumba.
These fraudulent returns were filed with the Registrar of Companies, falsely indicating changes in shareholding and directorship, allowing the accused to claim majority shares.
The alleged fraud came to light on September 30, 2024, when the Department of Parks and Wildlife informed the complainant of a suspension of mining operations due to the accused’s claims of ownership.
Using the illegally obtained shares, the accused removed the complainant from directorship during an annual general meeting on November 19, 2024, and resolved to change the company address.
The complainant is said to have suffered a financial loss of US$150,000, with no recovery of the stolen assets reported.
For More News And Analysis About Zimbabwe Follow Africa-Press
