FOREX COOKIES SCREW NEDBANK: 28 GAMES newsdzeZimbabweNewsdzeZimbabwe


A massive scandal rocked Nedbank Zimbabwe – a local
unit of one of the largest financial services groups in South Africa – after 28
officials were arrested by police for allegedly misleading the financial
institution of more than US $ 1.1 million through an elaborate
bank balances in dollars of depositors with electronic money (RTGS).
Some of the employees involved in the scheme are
supposedly on the run. It is understood that the scandal – through which bank
accountants withdrew the depositors' dollars and traded them in the parallel market.
while pocketing the difference – occurred in the period from six months to March
this year, particularly at a time when US dollar and RTGS balances were pegged
in 1: 1.
There are fears that creative transactions of this nature
were a practice throughout the industry. However, in February, the Reserve Bank of
Zimbabwe has taken the bold decision to float the bank balances of the SLBT, which means
the exchange rate is now determined by the market.
Sources told The Sunday Mail yesterday that disrespect
was detected by Sandton, the father of South Africa's parent company
bank, which fished the coup plotters.
Suspects of fraud were arrested on Friday night in
Harare, Bulawayo, Zvishavane and Chegutu.
In Harare, 13 Nedbank Zimbabwe – former MBCA Zimbabwe –
scrutinists appeared before the magistrate Francis Mapfumo, who sent them to May
8 2019 in various terms of guarantee.
Those who were dragged to court in Harare are Etilda Deshe
(39), Chamunorwa Shereni (36), Ivy Mudzingwa (36), Aysher Musoni (32), Prince
Manhire (44), Shorai Chiperera (40), Mutombera Blessing (42), Upenyu Mupfure
(33), Tawanda Pfuurai (34) and Sithembinkosi Mupendeka (35).
Others include Loveness Kembo (33), Freddy Tafireyi (36)
and Oswell Kisi (49). The State was represented by Linda Gadzikwa, while the
accused were represented by Messrs. Justin Zuze, Kuchenga Takura and Advocate
Garikayi Sithole.

Mr Mapfumo granted the bank guarantee between the
$ 100 and $ 450.
They were also ordered to continue residing in their acquaintances
report to the police once a week and do not interfere with the
witnesses until the case is finalized.

The forex scandal occurred between October 15, 2018 and
March 9, 2019. Overall, the bank suffered a financial loss of more than $ 119
The documents of the court say: "During the period extending from 15
From October 2018 to March 9, 2019, the defendants used the Denomination Exchange
Platform in the core banking system Flexicube (under the teller module), which is
designed only for the exchange of similar currencies, that is to say,
debts and took out money in USD, thus damaging the bank.
foreign currency and, as a result of the actions of the accused, the
suffered a real loss of $ 1,1919,974 and nothing was recovered. "
Nedbank Zimbabwe has confirmed the bank's arrest
employees, saying that the financial institution will always strive to maintain the
integrity of the institution.
In a statement released to The Sunday Mail, the bank
executive in charge of marketing, public relations and communications, Ms
Dedrey Mutimutema confirmed the development.
"Arrests of certain Nedbank employees were made in
allegations of unlawful conduct. Nedbank will cooperate fully with the law
agencies on this issue, "she said.
"Nedbank holds the highest standard of ethics, and
integrity is the hallmark of Nedbank's negotiations. Nedbank strives to ensure that
employees abide by the values ​​of integrity and good ethical practice. Nedbank's
processes are also designed to complement this, and where these
Nedbank does not hesitate to take appropriate action. "
The father of Nedbank Zimbabwe is listed in Johannesburg
Stock Exchange and holds more than R1trillion in assets. Sunday courier


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