Harare – TM Supermarket has lost over $1 million after its top management from around the country ganged up, created an Ecocash Merchant number and transferred funds from the supermarket into their Ecocash account and converted it to their personal use.
Taurai Madziwanzira (28), Silas Munyoro (33) Tafara Matanga (33) and Talkmore Mutsago (36) who are branch managers and accounts book keepers at TM hatched a plan in 2018 to defraud TM Supermarkets in working together with other accused persons who are still at large.
The gang appeared Before Harare Magistrate Rumbidza Mugwagwa facing fraud charges and they were denied bail and remanded to February 20.
Prosecuting Shepherd Makone alleges that the group of top managers are alleged to have registered an Ecocash Merchant line in Nyangwaira’s name.
During the period unknown to the State but in January, Mukono and Nuzambi transferred funds which they had realised from sales made by their respective branches to their registered Merchant account.
Madziwanzira and Munyoro would in turn send Ecocash Sales amounts less the amounts stolen to Mukono, Muzambi and Daison Mudakari who would then receive the Ecocash Transaction reports from Econet Wireless Zimbabwe showing the actual sales figures made by the respective branches.
Mukono, Muzambi and Mudakari would then manipulate the reports to tally with the figures sent to them by their accomplices as a way of covering up their tracks.
The manipulated amounts would be sent to the finance manager for banking while the gang shared the proceeds.
A total amount of $1 107 050 was lost.