Former Company Director Convicted of Fraud as High Court Orders Woman to Forfeit US$35,000 in Money Laundering Case

By Southerton Business Times | Harare

The Zimbabwe Republic Police (ZRP) has announced two significant convictions in separate commercial crime cases, saying the outcomes demonstrate its continued efforts to combat fraud, money laundering and other economic offences.

In a statement issued on Friday, the Provincial Community Relations Liaison Officer, Criminal Investigation Department (CID), Detective Inspector Muteweri R, said a former company executive had been convicted of fraud, while a Mutare woman was ordered by the High Court to forfeit US$35,000 after being found to have benefited from proceeds of crime.

According to police, Shingai Faranisi (34) was convicted of fraud by the Harare Magistrates' Court after investigations by the CID Commercial Crimes Division established that he unlawfully authorised the transfer of company funds while serving as a managing director.

Police said Faranisi was arrested in June 2024 and appeared before Magistrate L. Mutendereki, who convicted him on 26 June 2026. The court sentenced him to 16 months' imprisonment, with the sentence effectively suspended under various conditions.

According to the ZRP, four months were suspended for five years on condition of good behaviour, six months were suspended on condition that he restitutes the complainant, while the remaining six months were suspended on condition that he completes 210 hours of community service at Damafalls Clinic in Ruwa. Investigators alleged that in 2022, Faranisi abused his authority as one of the company's bank account signatories by authorising the transfer of ZWL$3.24 million from the company's account without the knowledge or approval of the required co-signatory, contrary to the firm's financial procedures. Police said the unauthorised transaction resulted in financial prejudice to the company.

Woman ordered to pay US$35,000 in money laundering case

In a separate case, the High Court ordered Moud Fadzayi Mutambara, of Ngani Village under Chief Mutambara, to pay US$35,000 into the Recovered Assets Fund, administered by the Reserve Bank of Zimbabwe, after proceedings related to money laundering.

According to the ZRP, Mutambara appeared before the High Court on 17 July 2026 over allegations that she assisted her partner in concealing proceeds of crime. Police alleged that she received US$26,000, which she used to purchase Stand Number 953, Raheem Farm, Mutare, knowing that the money had originated from a staged robbery allegedly orchestrated by her boyfriend, George Mapudzi. The High Court ordered Mutambara to pay US$35,000, representing the assessed value of the benefit derived from the offence, within 90 days.

Police said failure to comply with the order would result in a two-year prison sentence. The CID said the successful investigation and prosecution of the two matters underscore the Zimbabwe Republic Police's commitment to tackling commercial crime and protecting the country's financial system.

"The successful investigation and prosecution of these cases demonstrate the ZRP's unwavering commitment to combating commercial crimes such as fraud, money laundering and other economic crimes and ensuring justice prevails," the police said.

Zimbabwe fraud conviction