Uniccroft Investments Directors ‘Belinda Mukanganwi and Andrew Mutaurwa’ In $684,000 Fraud Charges

Two directors of the now-liquidated Uniccroft Investments, trading as Pulse Surgical Care, have been arrested and charged with fraud after allegedly violating a High Court liquidation order. The complainant claims to have suffered a financial prejudice of USD 684,000 due to their actions.

According to court documents, Belinda Mukanganwi and Andrew Mutaurwa were entrusted with managing the liquidation process of the company to ensure it became solvent. Under the court order, Andrew Mutaurwa was granted authority to pay salaries and statutory obligations, while all other payments required joint approval from both directors, including Mukanganwi.

However, it is alleged that the duo acted in connivance to divert company assets and funds for personal use. Among the accusations, Mukanganwi and Mutaurwa are said to have unlawfully taken five company motor vehicles valued at USD 43,000.

The two are also accused of misappropriating USD 152,303 collected from company debtors. Furthermore, Mukanganwi allegedly authorized the transfer of USD 45,000 from company accounts to purchase residential property for Mutaurwa.

In a separate incident, Mutaurwa is alleged to have withheld company stock and, with Mukanganwi’s cooperation, sold it for USD 213,391. Additional unauthorized transactions totaling USD 36,966 were allegedly made to various individuals, including payments of USD 8,625 and USD 28,341.

The court also heard that Mutaurwa purchased a laptop for USD 1,000 and made a payment of USD 90,000, all in breach of the liquidation order.

The combined allegations reveal a significant violation of the High Court directive, resulting in substantial financial losses for the complainant. A police report was filed, leading to the arrest of the accused.

Mukanganwi and Mutaurwa were granted bail of USD 300 each and are scheduled to appear in court on February 13, 2025, to answer the charges.

The case highlights concerns over compliance with court orders during corporate liquidation processes, as well as the potential for abuse of entrusted powers.

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