YOUTHFUL businessman and former Zimparks board member Neville Mutsvangwa lost money amounting to over ZWL$700 000 after it ‘disappeared’ from his Nedbank account, Zim Morning Post can exclusively reveal.
Sources said Mutsvangwa instructed his banker to block his account after noticing suspicious transactions.
This publication established that on August 16 2020, four unauthorised withdrawals were made from Mutsvangwa’s account.
The first withdrawal was ZWL$260 000 and the yet to be identified beneficiary holds account number 12990193775. The second transaction was ZWL$200 000 which was wired into account number 11991122518 and batches of ZWL$57 750 and ZWL$100 000 which were moved into accounts number 21016098444 and 11990671143 respectively.
Zim Morning Post gleaned a letter which Mutsvangwa wrote to the bank’s management registering his concerns on the anomalies.
In the letter Mutsvangwa highlighted that after noticing anomalies, he called his personal banker one Faith Madambe who told him to visit the branch immediately.
“I did not authorise or initiate any of the transactions and these numbers are foreign to me. I called my personal banker Faith Madambe who advised me to come to the branch and arrived there within ten minutes. I was referred to one Revai Nyamunda who then blocked my account,” read part of the letter.
Mutsvangwa has however not recovered anything and the money has not been reversed from the recipient accounts.
“I do not suspect any technical glitch, this was a well calculated scheme, if you look at the sequence of three of the account numbers. I suspect someone has been moving and spinning money over weekends without account holder noticing,” opined our source works at the bank in question.
Reached for a comment Nedbank acting head of marketing Latifa Kassin could neither deny or confirm the issue citing banker-client confidentiality.
“Well, we cannot comment on such matters as we stand guided by banker-client confidentiality,” said Kassin.
Meanwhile, in 2019, four police detectives were arrested after under declaring money they had confiscated from Mutsvangwa at his Five Avenue offices.