Nhimbe Fresh Export boss Edwin Masimba Moyo appeared at the Harare Magistrates Court Tuesday charged with defrauding a local businessman of US$350 000 in a botched tobacco sale deal.
Moyo (67) appeared before magistrate Stanford Mambanje who granted him US$500 and remanded the matter to May 8 for a possible trial date.
He was represented by Dumisani Mthombeni and advocate Joshua Chirambwe. The complainant is Moses Ruwona, the managing director of Tambwari Logistics Pvt Limited.
Allegations are that Moyo, representing Nhimbe Fresh Exports (Pvt) Ltd, entered into a contract grower’s agreement with Northem Tobacco (Pvt) Ltd. The accused offered his property being Lot 273 Highlands Estate of Welmoed, measuring 9220 square meters valued at US$400 000 as surety mortgage.
lt is alleged that sometime in December 2022, the accused secured a loan facility with NMB Bank and surety was required for the loan facility to be processed. The State alleges that Moyo mooted an idea of defrauding the complainant.
Pursuant and to his alleged plan, the accused approached the complainant whom he knew had cash. The accused misrepresented to the complainant that he had secured a tender from Northern Tobacco that he could buy raw tobacco for export but he had no funding.
Moyo also misrepresented that after the payment of US$350 000, the product would be ready for export within 14 days and the complainant would obtain a 10% share profit upon exporting the tobacco.
Acting on the misrepresentation, on December 15, 2022, the complainant developed interest and transferred US$17 100 into Northern Tobacco’s Stanbic Bank account 9140000888345 which were supplied by the accused on the pretext that it was payment for tobacco.
On January 4, 2023, complainant met the accused person at Stanbic Bank, Borrowdale branch and the complainant deposited US$ 332 900 into the same Northern Tobacco’s Stanbic Bank account which the accused supplied to the complainant.
After full payment had been made, the complainant waited for the delivery of the tobacco for exports but nothing materialized. The complainant realised that there was no business transaction of that nature and made several efforts to get redress from the accused in vain, prompting him to make a police report.
The accused misrepresented to the complainant that he had secured a tender to buy tobacco for export yet in actual fact, he was offsetting a debt with Northern Tobacco (Pvt) Ltd arising from a contract grower’s contract agreement between the two with the intention of redeeming his property and use it to secure another loan with NMB Bank.
lt is alleged that as a result of the accused person’s actions, the complainant suffered an actual prejudice of USD$350 000 and USD$30 000 was recovered.Moyo is denying the charge.
Source- Zimbabwe Independent
