Steward Bank loses $19 600 in suspected Ecocash fraud

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STEWARD BANK in Bulawayo was allegedly defrauded of more than $19 600 by an employee of a non-governmental organisation (NGO), who collected money paid by farmers through the bank’s mobile EcoCash money transfer service and converted it to her own use.

STEWARD BANK in Bulawayo was allegedly defrauded of more than $19 600 by an employee of a non-governmental organisation (NGO), who collected money paid by farmers through the bank’s mobile EcoCash money transfer service and converted it to her own use.

SILAS NKALA STAFF REPORTER

This was heard when Siphilisiwe Mukarate (38) appeared before Bulawayo senior magistrate Sibongile Msipa charged with fraud.

She was not asked to plead to the charge and was granted $100 bail and remanded to August 18.

Prosecutor Danmore Kasenza told the court that between November 2013 and April 2014, Mukarate was the co-ordinator for the Food and Agriculture Organisation in partnership with Econet Wireless, owners of Steward Bank, and World Vision in the Insiza district of Matabeleland South.

Under the scheme, farmers were to pay $80 through EcoCash for them to receive double the amount from Steward Bank.

Mukarate allegedly changed the system and tasked agro-dealers and Agritex officers and EcoCash agents to collect the money from farmers.

The cash was then sent through their heads of departments to Steward Bank.

At some point, Mukarate allegedly collected the cash under the pretext that she was going to bank the money at Steward Bank where she claimed to work.

Mukarate allegedly received some EcoCash lines that were withdrawn from EcoCash agents in Zvishavane and she withdrew the money and converted it to her own use. Steward Bank was prejudiced of $19 610 as a result of Mukarate’s actions.

The fraud was discovered and a report was made to the police, leading to Mukarate’s arrest.