A PROMINENT corporate executive appeared before Harare magistrate Marehwanazvo Gofa on Tuesday facing allegations of defrauding his former employer of over US$208 000.
Never Mhlanga (64), a former director of Ludham Investments (Pvt) Ltd, was asked to plead when he appeared in the court.
Ludham Investments (Pvt) Ltd was represented by Tinashe Chimanikire.
It is State's case that sometime in November 2024, the complainant came across an article in the Financial Gazette which stated that Briolette Services (Pvt) Ltd trading as Mont Clair Hotel and Casino had been sold to the Rainbow Tourism Group for the sum of US$5 million.
The court heard that Ludham Investments was a shareholder in the said company with a 4,17% stake.
Chimanikire allegedly contacted other shareholders of Mont Clair Hotel and Casino to verify if they were aware of the transaction.
He was informed by one of the directors of NDH Holdings that a sale agreement had been signed and the transaction went through.
Chimanikire asked why Ludham Investments had not been contacted or involved in the transaction.
It is alleged that Chimanikire was informed that Mhlanga represented Ludham Investments in the transaction.
According to court documents, Chimanikire asked Mhlanga why he represented the company when he had resigned.
Mhlanga became evasive and a police report was filed.
The total value lost as a result of the transaction is US$208 500, being the value of 4,17% shares of Monte Claire Hotel and Casino.
