Clarion loses over $6m in bank transfer scam

Michael Mashiri

A Chitungwiza man has been granted ZWL$100 000 bail after swindling ZWL$6 176 933 from Clarion Insurance Company.

Valentine Jamu (29), of Unit P, Seke, in Chitungwiza appeared before the Harare Magistrates’ Court Charged with fraud as defined in Section 136 of the Criminal Law (Codification and Reform) Act Chapter 9:23.

The court was made to understand that during the period between 24 October 2022 and 14 November, 2022 at Zimpost Mall Parktown in Harare, Valentine Jamu, acting in connivance with his two accomplices namely Kudakwashe Ngirazi and Nigel Mverechena, who are still at large, misrepresented facts to Lincoln Tangirai Chanakira, who is an agent of Clarion Insurance Company, that they had paid ZWL$6 176 933 for several motor vehicles' insurance licences through bank transfer to a Clarion Insurance Company CBZ account.

The accused sent forged NMB Bank and First Capital Bank proofs of payment to Chanakira.

When Chanakira received forged proof of payments from the accused, he believed the payments were done to Clarion Insurance CBZ Bank account and he handed over the licences to the accused.

When the accused made the misrepresentation, they knew very well that they did not transfer any money to the Clarion Insurance Company CBZ account but their intention was to defraud the insurer of their motor vehicle insurance licences. The misrepresentation caused actual prejudice of ZWL$6 176 933 to Clarion Insurance Company.

Magistrate Dennis Mangosi granted bail of ZWL$100 000 to Janu on condition that he would not interfere with witnesses, report twice a week between Monday and Friday at Waterfalls Police Station. He was ordered to appear in court on 16 January, 2023 after investigations on the case are over.