Kudakwashe Simon Vukomba has been handed a 10-year prison sentence for perpetrating 175 counts of fraud amounting to ZWL$302 million. The case involved defrauding both the Zimbabwe Revenue Authority (Zimra) and the Securities Exchange of Zimbabwe (SECZim).
The judgment was delivered by the Harare Magistrates’ Court on March 11, 2024.
According to the National Prosecuting Authority of Zimbabwe (NPAZ), Vukomba held the position of Finance Manager at Morgan and Co from 2021 to 2022. During this period, he was tasked with handling payments to statutory bodies, including SECZim and Zimra.
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The modus operandi involved Vukomba raising payment requisitions, obtaining the necessary approvals, and then manipulating online banking transactions. Instead of directing payments to the legitimate accounts of the statutory bodies, he redirected the funds to either his own company accounts or those belonging to his associates.
The fraudulent activity was exposed when SECZim conducted a review of outstanding payments.
Vukomba was subsequently sentenced to 10 years in prison, with three years suspended for five years on the condition of good behavior. Additionally, four years of the sentence were suspended contingent upon Vukomba reimbursing ZWL$302 million to the affected company. He is set to serve an effective three-year prison termHome – ZiMetro News
