A teller with African Century Limited Bank appeared before Harare before magistrate Dennis Mangosi facing $31 million fraud charges. Calvin Mucharwei was remanded in custody until tomorrow for bail ruling.
The complainant is African Century Limited Bank represented by Head of risk department Jeremiah Ndhlovu. It is the State’s case that on September 4, this year Mucharwei prepared a list of failed Airtime transactions to be reversed.
After preparing the list he then submitted it to the IT Systems Analyst Shelton Ndindana for processing. Mucharwei’s duties included reconciling Zimswitch and Airtime transactions and also preparing lists of reversals.
It was during that time when Ndindana became suspicious of one transaction totalling $700 000 which was meant to be reversed. An investigation exposed other dubious transactions worth $1 300 00, $700 000 and$$600 000.
The invalid failed transactions were processed 65 times with different amounts between September 1, 2021 and June 3 this year and amounted to $29 963 875.02. In total, the bank was defrauded of $ 31 263 875.02 and nothing was recovered.
