Director in court for swindling bank

By Ivan Zhakata, Staff Writer

HARARE -
A Harare managing director of Nesgate Investment trading as Passade Enterprises has been arraigned before the magistrates’ court for allegedly swindling a local bank.

Jaison Passade, 34, appeared before regional magistrate Clever Tsikwa facing fraud charges.

The court heard that on March 17 last year Passade went to First Banking Cooperation (FBC) Samora Machel branch where he deposited a bank cheque with a false value of $800 000 from TCF National Bank from Democratic Republic of Congo (DRC).

The bank allegedly requested for supporting documents from Passade since he had deposited a high value cheque.

According to state papers, Passade had presented to the bank fraudulent tender documents purportedly issued by the Zimbabwe State Procurement Board (ZSPB) on behalf of the DRC government showing that Passade’s company, Nesgate Investments had been awarded a tender with DRC for installation morgue units, 1 702 window type air conditioners and 2 800 ceiling cassette type air conditioners.

Since the cheque was of high value and a foreign one, Passade allegedly dispatched it to Standard Chatered Bank in New York, United States of America where the cheque was dishonoured with the reason “refer to makers”.

ZSPB made investigations and revealed that the tender which was presented by Passade was fake as ZSPB only deals with local tenders leading to the arrest of Passade.


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