Former diamond company boss up for theft

FORMER Zimbabwe Consolidated Diamond Company (ZCDC) chief executive, Mark Mabhudhu yesterday appeared at the Harare Magistrates’ Court facing charges of theft of trust property.

Source: Former diamond company boss up for theft – NewsDay Zimbabwe January 26, 2017


The ex-ZCDC boss is accused of refusing to surrender company property upon termination of his contract.

Mabhudhu was not asked to plead when he appeared before magistrate, Rumbidzai Mugwagwa, who remanded him to February 28 on $100 bail.

As part of his bail conditions, Mabhudhu was ordered to report once every week at CID Serious Fraud, not to interfere with the State witnesses and to reside at the given address.

Mabhudhu was represented by Harare lawyer, Isheunopa Mataka, who notified the court of his intention to challenge his client’s placement on remand on the next court date.

It is the State’s allegations that on November 8, 2015, Mabhudhu was appointed acting ZCDC chief executive officer by the company’s board and was offered, among other benefits, a Jeep Cherokee motor vehicle and a fully-furnished house in Borrowdale Brooke.

The State alleges on June 3 last year, ZCDC terminated Mabhudhu’s contract and in the retrenchment letter, he was instructed to surrender all company assets, as well as to vacate the company house.

However, on December 16 last year, Mabhudhu allegedly violated the trust agreement, which required him to surrender all company assets upon expiry of the termination period, and unlawfully took away the company vehicle and all household property.

The offence is said to have come to light on December 20 when an asset verification exercise was conducted at the house and it was discovered Mabhudhu had converted property worth $78 248,96 to his own use.

The matter was reported to the police, leading to his arrest and recovery of goods valued $75 000.

Audrey Chogumaira appeared for the State.