HARARE – A finance manager at the brokerage firm Morgan and Co, has been sentenced to a decade behind bars after the Harare Magistrates’ Court found him guilty on 175 counts of fraud, totaling Z$302 million.
Tasked with transferring funds to regulatory entities like the Securities and Exchange Commission of Zimbabwe (SECZim) and the Zimbabwe Revenue Authority (Zimra), Kudakwashe Simon Vukomba exploited the online banking system to reroute monies to personal and associate accounts.
The scheme came to light when SECZim inquired about overdue payments.
The court’s sentence includes a conditional 3-year suspension over a 5-year period for good conduct, alongside a 4-year suspension contingent upon restitution of the embezzled sum to Morgan and Co.
Consequently, Vukomba is set to serve an effective 3-year term.
