Golden Peacock defrauded of $33,4m
A procurement manager at Golden Peacock who converted the hotel’s $33, 4 million to his personal use appeared before Mutare provincial magistrate, Mr Richard Ramboa, on Monday.
Zhu Ji-Zhong is facing two counts of fraud as defined in Section 136 of the Criminal Law (Codification and Reform) Act, Chapter 9:23 and Theft of Trust Property as defined in Section 113(2) (c) of the Criminal Law (Codification and Reform Act), Chapter 9:23. Mr Thurstone Mubvumbi prosecuted. Zhu was not asked to plead and was remanded out of custody to September 26 on $150 000 bail.
In the first count, Mr Mubvumbi said Zhu, being the sole holder and custodian of the hotel’s bank card, generated fake receipts and invoices of transactions that had not been done to cover up for the theft of $7 288 665.
This allegedly transpired between June 1 and July 30, 2022.
Mr Mubvumbi said Zhu allegedly connived with his subordinate, Delight Door Mapuranga, and tendered invoices and receipts to the internal auditor of goods and services without corresponding goods or services vouchers, thereby prejudicing Golden Peacock of $7 288 665.
Mapuranga is also being charged with forgery as defined in Section 137 of the Criminal Law (Codification and Reform) Act, Chapter 9:23. In the second count, the court heard that during the same period, Zhu also used the company’s card and stole money which was entrusted to him by Golden Peacock Villa Hotel through unsanctioned electronic transfers.
“The accused person being the procurement manager assigned his subordinates to accompany him to various illegal money changers in Mutare’s Central Business District where the company’s bank card was used to withdraw $26 185 680.
This money was used to get United States dollars. Zhu later converted the money into his own personal use.
“The accused person failed to account for the money and Golden Peacock Villa Hotel was deprived of $26 185 680.
“To cover up for the offence, Zhu faked purchase of goods worth $26 185 680, but the purported goods were not delivered to the hotel and were not supported by any written documentation or attachments,” said Mr Mubvumbi.A total of $33 474 345 was stolen and nothing was recovered.