Bethel Finance, a Harare-based money lending company, reportedly lost more than $ 30,000 to a Battery World Never Munhumayengwa accountant, who allegedly obtained cash loans on behalf of ghost workers.
Munhumayengwa (42) is said to have used various bank accounts that the police suspected of belonging to his friends from which he would have accessed the $ 30,395 deposited.
Munhumayengwa appeared Thursday before Harare Magistrate Donald Ndirowei on 22 counts of fraud and was returned to March 4 on $ 100 bail.
He is accused of misrepresenting the facts and submitting loan applications to Bethel Finance as well as various bank accounts allegedly opened by Battery World employees.
Munhumayengwa reportedly provided Bethel Finance with the account numbers and names of his friends who maintained accounts with various banks.
Based on the information provided, Bethel Finance processed the loans and credited several amounts to the banks ranging from $ 620 to $ 2,000, money which Munhumayengwa reportedly converted for his own use.
The breach came to light when Bethel Finance contacted Battery World and inquired about the repayment of loans the company was believed to have deducted from employee salaries.
Battery World has denied that any of its employees applied for a loan from Bethel Finance, a revelation that sparked investigations that led to Munhumayengwa’s arrest.