Cash dealer defrauds wholesaler of $15 000

A BULAWAYO man allegedly defrauded Star Distributors of $15 000 after pretending he could sell the wholesaler cash.

Ngqabutho Dube (29) of Nkulumane suburb yesterday appeared before magistrate Mr Tinashe Tashaya facing fraud charges.

He pleaded guilty and was remanded out of custody to August 3.

Prosecuting Mr Realy Madzimure said: “On May 9 this year around 4:15PM, Dube visited Star Distributors and met the Director of the company Mr Kudya George. Mr George informed Dube about his company’s dire liquidity situation.

The company experienced difficulties in acquiring sufficient cash for its smooth operation due to withdrawal limits at the bank.”

He said Dube advised Mr George to transfer money from his company’s EcoBank account into Silinganiso Ncube’s Steward bank account through Real Time Gross Settlement System (RTGS).

Mr Madzimure said Dube gave Mr George false assurance that Mr Ncube possessed large amounts of cash that he would give to the wholesaler once the bank transfer had been effected, since he was a Steward bank agent.

He said Mr George never received money from Mr Ncube, instead Dube and one Mehluli Bhebhe, who is still at large, withdrew the money from Mr Ncube’s account using an ATM card from cash points at supermarkets. The money was not recovered. A report was made at Bulawayo Central Police Station leading to Dube’s arrest.—@MondelaC