Employees swindle company of $390K
Two Quest Financial Services employees allegedly connived and stole more than $390 000 meant for client loans.
Angeline Muchaneta Iron who was employed as a cashier and Chipo Blessing Chiweshe, a supervisor, allegedly stole from the micro finance company.
The two were allegedly caught after their managing director James Msipa noticed that cash float was dwindling and ordered a forensic audit.
Iron and Chiweshe were this week arraigned before Harare magistrate Lucy Mungwari facing 394 counts of theft of trust property.
It is the State’s case that the two were responsible for cashing out money transfers and disbursement of loans to clients using the company’s two EcoCash lines.
It is alleged that the company was entitled to a commission for all EcoCash transactions.
The record showed that Econet paid $9, 994 as commission to the company but the two allegedly never transferred the commission which was earned to Quest Financial
Services and did not record the money in transaction records.
On another count, the two allegedly registered another sim card under the name Quest Rod Port and used it to conduct unauthorised transactions.
They allegedly transferred cash amounting to $46 201 through EcoCash into the number they fraudulently registered under the company.
Sometime in March this year, Msipa discovered that the cash float was dwindling and he engaged an independent audit company to carry out a forensic audit at Quest Financial Services.
The audit, carried out in April revealed that Iron and Chiweshe stole cash amounting to $325 475 and converted it to their own use. Daily News.
