A MANAGER of a local company, Delatfin Engineering was arraigned before Harare magistrate Yeukai Dzuda yesterday on allegations of defrauding his employer of US$3 million.
Jacob Muyambo (47) was remanded in custody to tomorrow for continuation of bail application.
Muyambo was employed as the finance and administration manager and part of his duties included allocation of stands and preparing agreements of sale.
He made double allocation of stands and would conceal information pertaining to the illicit transactions.
His accomplices allegedly assisted him to process sale agreements without the company getting paid for them.
Muyambo would take the fake agreements of sale and authenticate them for verification.
In 2021, an internal investigation and verification was done by the company which unearthed fraudulent agreements of sale, which bore Muyambo’s signature. The accused prejudiced the company of US$3 350 865,41 and nothing was recovered. Caroline Mutimusakwa represented the State.