Missing Diamond Proceeds - Farai Rwodzi ,CFX/Interfin Bank Zimbabwe & Muponda ownership dispute Part 3 of 5

Mr Farai Rwodzi and Interfin Bank Holdings seem to be running out of excuses or scapegoats to blame for their poor judgement and general greed. This must be a first for people who are supposed to be running a Bank.



First Mr Rwodzi claimed to have paid me US 5.3 million ( http://www.newsday.co.zw/article/2010-08-25-interfin-acquires-13-of-starafrica ).When I denied ever receiving this money Interfin then changed their story to say they will never pay me a cent http://www.newsday.co.zw/article/2010-09-26-interfin-rejects-mupondas-53m-claim .And now they allege I have scared investors and alleged that the missing diamond sales proceeds found their way to Interfin Bank. I don’t take lightly to people who try to escape sticky situations by dragging my name into the mud.



I never scared off any investor. Any diligent and serious Investment Banker would have done what I did by alerting potential investors of pending litigation.Its simple common sense and common professional courtesy .You don’t need a PHD in common sense to understand that.I have already filed High Court case HC-6244-04 to reverse the illegal seizure and fraudulent transfer of my 309 million shares Century/CFX Shares.



Investment Banking ethics demand that I alert any and all stakeholders of such action so that they exercise caution when dealing with CFX/Interfin Bank because of the contigent liability of 15.4 million for the 309 million shares at 5 cents which they owe me and my Company ENG Capital. If I fail to alert the investing public and other investors and stakeholders of the nature and quatum of my claim I would have exposed my self to future litigation for negligence and recklessness.



“According to Njanike, Muponda claims that earnings from diamond sales amounting to $30 million that allegedly disappeared from government coffers also “found their way to Interfin”.




“The truth is the money that we hold is a $2 million money market investment by the Zimbabwe Mining Development Company (ZMDC). Our strategy is to court cash-rich companies such as insurance companies and diamond companies. I wonder where Muponda is getting all that from.”.













It is sad to see a whole and complete Managing Director of a Bank make such false claims and allegations.At no point did I ever say Interfin was the custodian of the looted diamond sales proceeds.I strongly suspect Mr Njanike maybe about to confess about where this looted $ 30 million is.Investors will be forgiven to assume Mr Njanike and Mr Rwodzi maybe be alluding to the fact that Interfin feel guilty and want to clarify widespread market rumours about alleged corruption at ZMDC.



The strong rumour circulating in the Zimbabwe and regional financial market is that Interfin Bank paid top bribes and kick backs to the ZMDC executives to attract those deposits whilst the ZMDC was closing down other mines due to lack of cash.



Is it now not obvious that these deposits cast a long shadow over Interfin’s dealings with ZMDC and other Institutions such as NSSA, there are general fear that where ever Interfin is involved there maybe corrupt inducements for Management to do business with Interfin. This appeared in a respected weekly and other daily newspapers.



These are just widespread rumours, but strong rumours which Interfin needs to deal with to allay market fears. Now when you have such allegations in your back yard International Institutions like MoneyGram International need to take note because in the US there is something Called Foreign Corruption Act, which could entangle MoneyGram executives if they hang around suspect institutions.



The ZMDC saga is juicy because the market says the fired/suspended ZMDC Managers were exposed since they were now building houses way beyond their means. In addition to generally behave as if they had discovered diamonds in their own back yard. This pattern was traced to deposits at Interfin according to a reliable source at one of Zimbabwe’s top Stock brokers who refused to be named for obvious reasons.



Interfin Bank MD Mr Njanike continues with his mis-directed and misguided attack on my person “Njanike said Muponda last year scared off three foreign investors who wanted to buy into CFX, including Finance Bank Zambia (FBZ), which planned to acquire 40%.”.Again Mr Njanike makes a false allegation that I “scared” investors.



I protected investors from reputational risk. Had they gone on to buy a stolen bank its similar to being caught driving a stolen car. Even if you claim to have bought the car from someone else the case will be costly to clear your name. This is why I advised FBZ to do a proper due diligence.



When they did their proper enhanced due diligence they confirmed the validity of my claim and stopped the proposed investment.I also asked Moneygram International to do a proper enhanced Due Diligence.Interfin Bank, Mr Njanike and Mr Rwodzi need to be a bit more serious and quit behaving like teen agers.



Through my lawyers I have given them documentary proof of the basis and legitimacy of my $ 15.4 million claim through High court case HC-6244-04 blocking and reversing the sale or transfer of the 309 million shares. We have asked these 2 gentle men to sit down ,reflect and make us and offer to settle this matter. So I am not sure why they are choosing to grand stand when the door is open to make a serious offer and we can resolve this without any further drama.