Sternford Moyo misled & manipulated by Farai Rwodzi and Interfin on ENG Capital – Part 3 of 5
After going through the legal opinion provided by Mr Sternford Moyo to Interfin regarding the disputed takeover over Century/ CFX Bank and its subsequate rebranding into Interfin Banking Corporation it becomes clear that Mr Moyo is a victim of deception and manipulation.
He was deceived into believing that there was never a legal challenge to the fraudulent and illegal transfer of the 309 million Century Shares into CFX Bank then into Interfin Banking Corporation. All records will show this illegal transaction was challenged through various letters and High Court application HC 6244-04 filed at Harare on May 2004.
This challenge was widely reported in the Herald Newspaper, The Independent and the Daily Mirror. Records at the National archives will confirm this .It remains a mystery why Mr Moyo would claim that there was never a challenge when publicly available records confirm the existence of a challenge which is currently before the courts.
“Prima facie, therefore, any disposal by the liquidator which is confirmed by the High Court or the Master of the High Court is a lawful disposal. A party alleging that the liquidation procedures were influenced by an unlawful act or unlawful activities has to make the claim formally in court and establish the basis for any allegation he or she may make.
It has been suggested in another opinion on the matter that Section 10 of the Prevention of Corruption Act [Chapter 9:16] divests Muponda of any locus standi. This is not correct. The issue was addressed by the Supreme Court in the case of MUTUMWA DZIVA MAWERE v THE MINISTER OFJUSTICE, LEGAL AND PARLIAMENTARY AFFAIRS, S.C. NO. 158 OF 2005. In that matter, an objection to locus standi was raised on the basis that Mutumwa Mawere was a specified person and could not, therefore, institute legal proceedings to challenge his specification or at all without the authority of the investigator. It was common cause that the prohibition was not absolute and could be cured by the authority of the investigator. Likewise, the obstacle faced by the directors of ENG can be cured by the authority of the investigator. ……….”
It is clear from the above that Mr Moyo was misinformed and his opinion was possibly fraudulently obtained. It is noteworthy to find out who misled him and what was the intention and motive for such misinformation. What was being hidden by the false impression that there was never a court case to challenge the transfer of shares? It is clear he gave an opinion which he would not have otherwise given had he been furnished with the full facts especially my founding affidavit for High Court Case HC -6244-04
Mr Moyo continues “……Consequently, Mr Muponda or Mr Watyoka, wherever they may be, can institute legal proceedings notwithstanding the specification. Decisions to the High Court to the contrary made before 11th September 2008 when the Supreme Court made its above finding are applicable only where the specified person proposes to use the resources of his estate in Zimbabwe. An additional basis raised by the Supreme Court is given on page 6 of the judgment where the Supreme Court pointed out that: “In addition, it is a moot issue whether he can be deprived of his constitutional right to challenge an administrative decision such as the above in a court of law to test its correctness. For example if such authority was refused by the investigator the appellant would have a right to appeal if it was unreasonably refused.”
Contrary to the above excerpts the illegal sale of the 309 million shares was challenged through various channels. Letters of complaint were sent to -
(1) the Register of the High court
(2) Liquidator
(3) Zimbabwe Stock Exchange
(4) Fidelity Stock Brokers
(5) Century Holdings Limited
This was followed up by a High Court application HC -6244-04 blocking the sale and or transfer of the 309 million Century/CFX Bank Shares. Its mind boggling that a Bank such as Interfin with the assistance of a lawyer of Mr Moyo’s standing would conduct a due diligence and fail to uncover the existence of such publicly available records which can even be obtained from the National Archives.
This behavior only serves to confirm that Mr Farai Rwodzi and Interfin Banking Corporation have something to hide that’s why they misled a leading lawyer without letting him review details of High Court Case HC-6244-04
This article appears courtesy of GMRI CAPITAL – www.gmricapital.com . It is generated for 3MG MEDIA – www.3mgmedia.ca .
Gilbert Muponda is an Investment Banker and Founder of GMRI CAPITAL . He can be reached at; www.ZimFace.com and
www.facebook.com/muponda
Email: gilbert@gilbertmuponda.com . Skype ID: gilbert.Muponda
Twitter ; http://twitter.com/gmricapital
Phone: 1-416-841-5542
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