Woman defrauds Jairos Jiri Trust

A 41-year-old woman appeared in court on allegations of defrauding Jairos Jiri Trust of more than £134 000.

Lynette Muchaneta Shumba of Waterfalls in Harare allegedly authored fraudulent letters requesting Jairos Jiri’s offshore investment administrator, FIM Capital Limited to deposit the money into her relatives’ bank account.

In the four letters, she reportedly forged the signatures of Lainah Linda Banda and Peter Carnegie Lloyd, the two trustees with the sole responsibility of administering funds which they receive upon request from FIM Capital.

She allegedly directed the United Kingdom Company to transfer the funds to a relative’s South African bank account while claiming that the relative has been appointed a trustee.

Shumba appeared before Harare magistrate Rumbidzai Mugwagwa facing one count of fraud.

Mugwagwa remanded Shumba out of custody to February 2018 on $200 bail.

According to court papers, Shumba is Banda’s former secretary and had access to her boss’ email.

It is alleged that sometime between December 31, 2017 and June 28 last year, Shumba generated four fraudulent memorandum copies with forged signatures of the two trustees.

In the fraudulent copies, she allegedly instructed FIM Capital Limited to transfer funds to her relative, Suwisai Musundire and endorsed her signature as a witness.

The court heard that she forwarded the copies of memorandum via Banda’s email address to Mary Tait of FIM Capital without the authority of the two trustees.

It is the State’s case that the copies of memorandum purported that the trustees had requested the offshore investment administrator to transfer funds to Musundure, who has been appointed as a Trustee at Geoffrey Jekyll Trust which is represented by Banda.

Acting on the misrepresentation, FIM Capital deposited £21 516, 67 and £63 461, 25 to Musundure’s bank account in December 2017.

FIM Capital transferred £50 000 on April 23, 2018 and another USD70 000 on June 28, 2018 to Musundure’s account.

The State alleges that Shumba then collected the money from Musundure’s bank account and converted it to her own use.

Due to her actions, it is alleged that Jairos Jiri lost £134 977.92 and $70 000 and nothing was recovered.

    Post a comment

    Readers are kindly requested to refrain from using abusive, vulgar, racist, tribalistic, sexist, discriminatory and hurtful language when posting their comments on the Daily News website.
    Those who transgress this civilised etiquette will be barred from contributing to our online discussions.
    - Editor

    Your email address will not be shared.