February 16, 2023

Duo cleared in US$765K fraud charges

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Blessing Masakadza

BUSINESSMAN Munir Kanrudin Kazi who was accused of duping foreign currency dealers of over US$750 000 in a botched money exchange deal has been acquitted.

Kazi was jointly charged with Andre Hoffman on fraud charges when they appeared before regional magistrate Vongai Muchuchuti- Guwuriro who ruled that elements of fraud had not been established.

It was alleged that on October 28 2019, one Levison Muringi approached one Charles Nyamunda and misrepresented that Kazi, Hoffman and himself had the capacity to provide local currency in exchange of United States dollars.

Muringi reportedly indicated that they wanted a total of US$ 765 000 in exchange of $17 212 500.

Nyamunda reportedly did not have the required funds and Muringi allegedly asked him to get more funds to reach the figure and he approached his other peers who in turn gave him the money.

Claims are that Muringi introduced Nyamunda and his colleagues Wisdom Hodzi and Rodney Makarutsa to Hoffman in Avondale.

Hoffman was accused of misrepresenting that their principal, Kazi, would transfer amounts in local currency into their bank accounts in exchange of United States dollars.

Reports are that Nyamunda gave Hoffman US$ 765 000 and he led the complainants to Kazi who was in Highland  who was said to be having the transfer amounts.

Claims are that at around 1800 hours Kazi sent the complainants a fictitious proof of payments allegedly from an Ecobank account and the complainants left and waited for the funds to reflect into their bank accounts.

They reportedly discovered that the alleged transfers were made from an unfunded account and in turn asked the suspects to return the money but they failed.

Represented by Oliver Marwa and Rungano Mahuni the two denied the allegations and initially applied to be tried separately with Muringi.

The court ruled that the witnesses had approached the court with dirty hands, bringing an illegal transaction before the court without evidence.

The court added there is no evidence that the witnesses gave the suspects that huge amount and without paper trail to show the money even existed.

 

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