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Sunday, 20 April 2014
Mushohwe promises to assist Capital Base clients PDF Print E-mail
Friday, 15 February 2013 11:39

Post Reporter
MANICALAND Provincial Governor, Cde Chris Mushohwe, has promised to act on the Capital Base case to ensure that those who lost out will be paid back.


In an interview on Tuesday, he said the Government was there to protect citizens and those who took people's money must be held accountable.
Two weeks ago disgruntled Capital Base Savings and Credit Co-operative Society clients petitioned Cde Mushohwe to intervene and help them recover more than $20 million they are owed by the troubled society.
In the petition, they pleaded with Cde Mushohwe to intervene saying he was their only hope.
"We are treating that case seriously and it is an urgent matter. As Government, we are there to protect the people and we will make sure that those who took what belongs to the people are made accountable. They must give us answers and they should pay back," he said.

The clients who are using all avenues possible to arm twist the society's directors to pay them including going to the courts, said there were looking forward to the Governor's intervention.
"All the people now look forward to your assistance as they feel that there is a lot going on at Capital Base than that which meets the eye. They have placed their hope in you…to assist us recover our investments from Capital Base Society. We invested with Capital Base Society at various points from 2009 to 2012 when the society collapsed," they said.
In recent weeks, the clients opted to press criminal charges against the society's directors.
At least 78 of them have pressed fraud charges against them and thousands more are expected to follow suit.

The directors - Solomy Kambunda (34), Kudzayi Madziyire (21) and Karan Emilia Gwanzura (20) - are out on bail.
The State alleges that the three connived to steal from their clients.
"The three accused persons, using Capital Base Savings and Credit Co-operative Limited, their company in which they are directors connived and acting in common purpose hatched a plan to defraud cash from the complainants.
"They then invited members of the public to invest in their company thereby making a misrepresentation that the complainants were going to each receive an interest of 15 percent per month based on amount invested. Acting on misrepresentation by the accused persons the complainants, in good faith and in trust deposited varying amounts to the accused persons expecting to receive the promised interests which the accused persons failed to pay as promised thereby making actual prejudice of the amounts to the complainants," read the State papers.
The State will produce documentary proof that the accused persons are the registered directors of Capital Base Savings and Credit Co-operative Limited as well as receipts as evidence that the complainants actually deposited the money with Capital Base.
There are also State witnesses who will testify that the accused persons committed the offence in the manner alleged.

 

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