Marondera businessman Francesco Marconati has been sentenced to two years in prison after being found guilty of fraudulently removing his business partner from the directorship of Eagle Italian Shoes.

Initially, the magistrate handed down a five-year sentence, with three years suspended on the condition that he doesn’t commit a similar offense.

In his ruling, the magistrate noted that Marconati was fully aware he was bypassing proper corporate procedures when committing the offense. He emphasized that Marconati did not receive any resignation letter from his partner, Ms. Song, and that the two had been long-time business and social associates.

Mr. Donald Ndirowei, the presiding magistrate, stated that the complainant had suffered significant emotional distress and financial loss due to Marconati’s actions. He also noted that Marconati had two prior convictions, establishing him as a repeat offender. The magistrate criticized Marconati for showing a lack of respect for the country’s criminal justice system by continuing to commit similar offenses, justifying the need for a severe sentence.

Marconati was convicted of two counts of fraud. Last week, the magistrate found that he had improperly removed Ms. Song from her role as company director and secretary at Eagle Italian Shoes and Agrilink, falsifying documents to claim that both she and Agrilink had resigned. The State, represented by Mr. Anesu Chirenji, demonstrated that Marconati had submitted false information to the Registrar of Companies, falsely claiming Ms. Song’s resignation.

Mr. Ndirowei detailed how Marconati presented a fraudulent CR6 document to Ecobank and First Capital Bank on October 14, 2021, to remove Ms. Song as a company director and account signatory, replacing her with his son, Alessandro Marconati. This document was never officially filed with the Registrar.

In December 2022, Marconati repeated the act by appointing his son Alessandro as director without notifying Ms. Song or holding any required meetings. In 2023, he and his son forged a third CR6 form, appointing Kutaura Bond as an additional company director. Due to these fraudulent actions, the company lost US$6.8 million.

The State also proved that the company secretary had not been informed of these changes, and no resignation letter had been submitted by Ms. Song. “No shareholders meeting or general meeting was conducted,” said Mr. Ndirowei. “The accused is found guilty as charged.”

President Emmerson Mnangagwa has approved two additional groundbreaking presidential initiatives aimed at empowering Zimbabwe’s economically marginalized population.

These initiatives, the Presidential Internet Scheme (PIS) and the Presidential Home Industry Development Scheme (PHIDS), will be launched in the near future to complement government efforts in achieving a middle-income economy by 2030.

Prevail International Group (PIG), under the leadership of its chairperson Paul Tungwarara, will spearhead these programs, building upon the success of its previous initiatives, the Presidential Borehole Scheme (PBS) and Presidential Solar Scheme (PSS).

PIS will leverage SpaceX’s Starlink satellite technology, to provide high-speed internet access to schools in marginalised rural communities, further bridging the digital divide.

On the other hand, PHIDS will establish and also upgrade existing home industries to create employment and empower the economically disenfranchised urbanites across the country.

PIG chairperson Tungwarara speaking on the launch of more presidential schemes on cards applauded Mnangagwa for being the mastermind behind the avant-garde garde initiatives that sought to achieve a middle income economy by 2030.

“The Presidential Internet Scheme and the Presidential Home Industry Development Scheme are noble projects that represent a monumental step towards digital and economic inclusivity across Zimbabwe.

“President Emmerson Mnangagwa’s commitment to utilizing cutting-edge technology like Starlink to reach our most remote villages and upgrade our ailing home is truly commendable.

“It reflects a deep understanding of the needs of Zimbabwean citizens and a dedication to their development,” said Tungwarara.

Tungwarara said PHIDS’ pilot project will be introduced by an upgrade in Glenview home industries which have been plagued by serial infernos of the years

“We are also going to implement another scheme of presidential home industry development

“To upgrade our home industry to state of the art we are ready to kick off our pilot to curb fire outbreaks in Glenview home industries that have been happening frequently.

“We are ready to do the project and are currently in liaison with the local authority to work out the framework favorable for both parties,” said Tungwarara.

PHIDS and PIS complement Mnangagwa’s existing initiatives, particularly the ongoing PBS and the PSS to improve the livelihoods of Zimbabwean citizenry.

The PBS has provided vital water sources to drought-stricken areas across the nation, including Gokwe, Nkayi, Chipinge, Tsholotsho, Hwange, Bulilima, and Lupane.

By mitigating the impacts of the El Niño-induced drought, the borehole scheme has significantly improved the livelihoods of many villagers.

PBS has also been instrumental in implementing commercial Village Business Units (VBUs) which have empowered previously marginalised communities to take control of local agrarian economies.

Under Mnangagwa’s vision VBUs are designed to spur rural industrialization and modernization.

VBUS have begun yielding benefits for villagers, creating employment opportunities and improving overall livelihoods.

Additionally, Zimbabwe Solar Energy Company, a subsidiary of PIG subsidiary, has been tackling load shedding through the PSS pilot project.

This initiative, now in full swing, has connected several homes in Glen View Suburb to the national grid.

Solar power is seen as a key solution to the country’s electricity outages and aligns with Sustainable Development Goal 7 of ensuring access to clean and affordable energy.

PSS involves renting and installing solar panels on rooftops at no cost, with the solar energy generated being fed into the national grid.

In return, ZESA has agreed in principle to suspend load-shedding in participating areas, and homeowners will receive a token of appreciation.

As PIG prepares for the rollout of more transformative presidential schemes it marks a new era of digital and economic empowerment for Zimbabwe’s marginalised communities, advancing the government’s Vision 2030 for comprehensive national development.

Harare magistrate Mr Donald Ndirowei has issued a warrant of arrest to Marondera businessman Francesco Marconati after he failed to show up in court for his sentence.

Marconati was last week convicted of fraud after he fraudulently removed his business partner from Eagle Italian Shoes directorship.
Earlier in the morning Marconati attended court but the matter was deffered to 2:15 following indications that his lawyer of choice was engaged at the High Court.

When court resumed after lunch Marconati’s name was called three times but he was in no show.
The State tendered an affidavit proving that was Marconati and his lawyer were nolonger engaged at the High Court leaving the magistrate with no choice but to issue a warrant of arrest.

Marconati was convicted after the magistrate found him guilty of two counts of fraud.

In convicting Marconati last week Mr Ndirowei said Marconati unprocedurally removed Ms Song from the company directorship and Agrilink as company secretary after he falsified documents that both she and Agrilink resigned from the company.

The State represented by Mr Anesu Chirenji proved that Marconati had provided false information to the registrar of companies that Song had resigned while she had not.

Mr Ndirowei said the accused submitted the first fake CR6 to Ecobank and First Capital Bank on October 14, 2021 to remove Ms Song as a company director and signatory of the company accounts and replace her with his son Alessandaro Marconati.

The CR6 was never filed with the Registrar. Marconati did not follow procedures in removing the complainant and there was no general meeting or shareholders meeting conducted.

He also did not advise Ms Song and didn’t follow procedure when he appointed his son Alessandro Marconati as director to replace Ms Song in December 2022 and filed a second forged CR6 and later on he and his son fraudulently forged a third CR6 in 2023 and appointed Kutaura Bond as extra company director.

As a result, US$6,8 million was lost due to his fraud and forgery.

“The State proved that the company secretary was not informed of any of those changes and no resignation letter was submitted by Ms Song,” said Mr Ndirowei.

“No shareholders meeting nor general meeting were conducted. The accused is found guilty as charged.”
Marconati was however released into the custody of his lawyer.