A branch manager and loans officer at a local financial services company have appeared in court facing fraud and money-laundering charges after allegedly creating fictitious accounts and using them to secure loans worth about US$200 000.
Takudzwa Blessing Chikwature, a branch manager, and loans officer Michael Tinashe Mwoyondewenyu appeared before Harare regional magistrate Estere Chivasa.
The two were each granted US$200 bail and will return to court on 1 September for routine remand proceedings in Chegutu.
Oakfin Finance (Pvt) Ltd represented by its head of credit and administration, Dzingai Magama is the complainant in the fraud case.
Prosecutors allege that the suspected fraud was uncovered on 27 July 2026 when Belindah Ndlovu, a credit control officer at the company detected irregularities in loan information on the firm’s system relating to its Chegutu branch.
Chikwature allegedly manages the branch while Mwoyondewenyu works as a loans officer.
The court heard that Ndlovu questioned Mwoyondewenyu about the irregularities, but he denied any involvement in manipulating the company’s system.
On 8 August, Magama and Ndlovu allegedly travelled to Chegutu to verify the loan records with the two accused.
The State alleges that their investigation uncovered accounts that had allegedly been created to appear as genuine clients eligible to apply for loans.
Prosecutors allege that Chikwature and Mwoyondewenyu controlled the accounts and used them on various occasions to apply for loans.
The loans were allegedly approved and disbursed before the accused collected the funds and converted them to their personal use.
The State estimates the total amount involved in the alleged fraud at about US$200 000.
Four vehicles allegedly bought using proceeds from the suspected fraud with a combined value of about US$16 000 were recovered from the accused and are being held by CID Chegutu as exhibits.
The vehicles are a cream Honda Fit, a silver Honda Fit, a white Nissan Caravan and another white Honda Fit.
On the money-laundering charge, the State is represented by Detective Assistant Inspector Murandu of the CID Asset Forfeiture Unit, Northern Region.
Prosecutors allege that between January and August 2026, the two accused obtained loans through fraudulent means and used part of the proceeds to purchase the four vehicles.
The vehicles were subsequently recovered and remain in police custody as exhibits.
