By Audience Mutema
TWO Harare company bosses have appeared in court for allegedly defrauding a petroleum firm of about US$156,000.
Christine Katsande, 54, general manager at Petrozim Line is jointly charged with Zadzisai Zaccharia Chizema, 43, who owns Kaltrade (Pvt) Ltd.
The two were granted $800 bail each and remanded out of custody when they recently appeared before Harare magistrate Rumbidzai Mugwagwa.
Court heard that sometime in February 2015, Petrozim Line needed to procure tank gauges and transmitters.
Katsande and Chizema secured three quotations from the latter’s Kaltrade (Pvt) Ltd and two others companies.
The following month, Katsande, with the connivance of Chizema, released US$156,435.50 from Petrozim Line into Kaltrade (Pvt) Ltd’s bank accounts.
In terms of company procedures, the money was not supposed to be released before the equipment was delivered.
The transaction was also not disclosed Petrozim Line’s directors.
Katsande and Chizema reportedly converted the funds to personal use.
According to prosecutors, Kaltrade (Pvt) Ltd never supplied Petrozim Line with the plain gauge tanks and transmitters.
The matter was disclosed by a whistle-blower which led to the arrest of Katsande and Chizema.