Cashier faces $150k fraud rap

HARARE - A cashier and supervisor at Quest Financial Services (Pvt) Ltd reportedly embezzled $150 000 meant for clients’ loans.

Angeline Muchaneta Iron, 29, and Chipo Blessing Chiweshe, 42, are being charged with theft of trust property before Harare magistrate Tilda Mazhande.

They are currently out on $300 bail with conditions to continue residing at their current addresses and not interfere with witnesses.

The complainant is Quest Financial Services, represented by managing director James Msipa.

Iron and Chiweshe were responsible for cashing out money and disbursement of loans to the company’s clients using EcoCash.

Prosecutor Linda Gadzikwa alleged that sometime in January, Msipa discovered that their cash float was dwindling and instructed the accountant, Belinda Ndangana, to carry out financial reconciliations.

The court heard that an audit was then carried out and unearthed that Iron and Chiweshe had converted $103 000 to personal use, cash meant to be transferred to clients.

It was alleged that the audit also established that in a bid to conceal the illegal transactions, Iron and Chiweshe inserted fictitious figures on their daily cash balancing reports, purporting that they had given loans to clients.

According to State papers, Msipa obtained an EcoCash print-out for the company’s Econet lines that were being used by Iron and Chiweshe during discharge of their duties to transfer money to various clients.

The court heard that Msipa’s findings revealed that from April last year to March this year, Iron and Chiweshe had transferred $50 000 through EcoCash into another number fraudulently registered in the name Quest Roadport Financial Services.

A report was made to the police, leading to Iron and Chiweshe’s arrest.

Quest Financial Services was prejudiced of $153 000 and only $11 307 was recovered from Iron.

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