Harare man sentenced for embezzlement

By Ndumiso Tshuma

A Harare resident, Kudakwashe Simon Vukomba, a former stockbroker, has been sentenced to three years in prison by the Harare Magistrate Court for 175 counts of fraud.

While employed at Morgan and Co. between 2021 and 2022, Vukomba was entrusted with paying taxes and fees to government agencies like the Securities and Exchange Commission of Zimbabwe (SECZim) and the Zimbabwe Revenue Authority (ZIMRA).

“He would raise requisitions for the payments, and have them signed off before the accused person would change the account numbers of statutory bodies and replace them with his company accounts or those of his friends and make the transfers accordingly. The offence came to light after SECZim made a follow-up of outstanding payments. The accused was convicted on all the counts amounting to ZWL302 million,” the National Prosecuting Authority of Zimbabwe said in a statement.

“He was sentenced to 10 years imprisonment on 11 March 2024. Three years were suspended for five years on condition of good behavior. A further four years were suspended on the condition that the accused person pays back ZWL$302million to the company. He will serve three years effectively.”