Harare Man Loses US$2 Million in Mining Shares in Suspected Fraud Scheme
A Harare businessman is fighting to recover shares worth about US$2 million after he was allegedly pushed out of two mining companies through a suspected fraud scheme.
Charles Karimazondo claims he was removed from key roles in the firms without his knowledge, effectively cutting him off from his stake.
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Accused Remanded in Custody
Two men, George Muchedzi and Innocent Ncube, have appeared in court facing fraud charges linked to the case.
They were brought before magistrate Jesse Kufa and will remain in custody pending a bail ruling.
Allegations of Deception
Prosecutors allege the accused, working with another individual, orchestrated a plan to mislead authorities by submitting falsified documents.
The paperwork reportedly indicated that Karimazondo had stepped down or been removed from his positions — a claim he disputes.
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Company Records Changed
Acting on the submitted documents, the Registrar of Companies updated official records, resulting in Karimazondo’s name being removed from the two entities.
The companies involved are Hookthorn Mining (Pvt) Ltd and Gold Pond Mining (Pvt) Ltd.
Millions at Stake
The alleged actions left Karimazondo facing a significant financial setback, with the value of his shares estimated at US$2 million.
The case continues, with the court expected to decide on bail as investigations proceed.
The post Harare Man Loses US$2 Million in Mining Shares in Suspected Fraud Scheme appeared first on iHarare News.
