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Late Genius Kadungure hit with fresh fraud charges, freed on bail

Posted by on November 12, 2020 0


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HARARE – Controversial businessman Genius Kadungure was back in court Thursday facing fresh fraud charges relating to a Rolls Royce he imported in 2018. Kadungure, who runs a company which trades in liquified petroleum gas, is accused of forging paperwork relating to the acquisition of the vehicle in order to pay less customs duty. Kadungure was only released on bail Tuesday by the Harare High Court after spending two weeks in jail accused of defrauding the Zimbabwe Revenue Authority (ZIMRA) after undervaluing a Bentley Continental which he imported last December.

The 36-year-old is also due to stand trial facing charges of evading paying taxes for his liquified petroleum gas business. ZIMRA estimates that he undervalued his company Piko Trading’s sales by over US$3 million. On Thursday, Kadungure was freed on $5,000 bail by magistrate Hosea Mujaya after his arrest on the latest charges. Prosecutors say Kadungure purchased a Rolls Royce worth R5 million from Daytona Private in Johannesburg, South Africa. The court heard that in a bid to deceive ZMIRA, he concocted invoice number RR 78695 to purport that he bought the vehicle for R3 million.

“During the same period and in pursuance to his plan, accused went on to manufacture a fake South African bill of entry number P58333 to purport as if the vehicle had been cleared by South African Revenue Services (SARS),” the court heard. It is alleged that on July 27, 2018, and armed with the fake documents, Kadungure imported the vehicle through Beitbridge Border Post and tendered the documents to ZIMRA for duty payment. ZIMRA allegedly acted on the misrepresentation and charged him duty amounting US$138,170 49 instead of US$228,430 59.

Investigations by ZIMRA revealed that he had actually bought the vehicle for R5 million. SARS also allegedly distanced itself from the bill of entry presented by Kadungure to ZIMRA. Zimra was allegedly prejudiced of US$90,260.10.

Source: www.DjNtLoaded.com

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