Interfin Banking Corporation fraud on CFX Bank unpacked - 1 of 5

Interfin Baning Corporation fraud on CFX Bank unpacked - 1 of 5

According to All Africa website CFX Bank merged with Interfin Bank and the merger was approved http://allafrica.com/stories/201011180051.html . However if the merger was approved by all the regulatory Authorities then why would Interfin try to liquidate a Bank which it merged with. It clearly doesn’t make any sense to liquidate a Bank which has already been merged with another . Its not legally possible and its practically fictitious to claim to liquidate a Bank which has already merged with another resulting in the formation of a new entity.

Interfin Banking Corporation Zimbabwe is a product of a fraudulent merger between Interfin Merchant Bank and CFX Bank which was subsequently renamed Interfin Banking Corporation after another irregular merger between Century/CFX Bank Limited and Interfin Bank Zimbabwe. Any further transaction or re-organization or restructuring will not change the facts that Interfin Banking Corporation has a disputed ownership due to the presence of CFX Bank assets in its DNA composition.


The so-called liquidation of CFX Bank is nothing but a fraud being perpetrated by Interfin Holdings Directors led by MD Raymond Njanike and Chairman Farai Rwodzi. There is no liquidation taking place whatsoever since all the CFX assets have already been ``merged`` and transferred into the new entity now renamed Interfin Banking Corporation. This is an effort to hide the tracks of the original fraud which is being challenged under High Court case HC 6244-04.This is an effort to escape legitimate liabilities brought about by Interfin`s unwise and greed move of trying to grab CFX Bank assets.

Interfin can not fully capitalize a Bank and then liquidate the same bank all within a year .According to another report titled Interfin Holdings Fully Capitalises CFX Bank Published on 13 January 2010 - http://allafrica.com/stories/201001130248.html . This does not add up and only provides further evidence that Interfin Banking Corporation are involved in fraudulent transaction and the various movements are meant to hide the tracks and cleanse an otherwise illegal and underhand deal.
There can be no talk of liquidating CFX Bank since CFX Assets have been merged with Interfin and effectively transferred into Interfin Banking Corporation and rebranded Interfin Banking Corporation in an a deliberate fraudulent effort to hide the illegal take over of Century – CFX Bank assets and network.
Specifically the assets below have been stripped from CFX Bank and transferred into Interfin Banking Corporation. IT and Computer Systems
- MoneyGram Money Transfer Franchise and System
- Branch Network
- Customers , clients and loan Book
- International Correspondent Bank Network
- Management and Staff
- Leases,Contracts and general goodwill
- Buildings and offices
- ZSE Listing Spot

CFX Bank had the most advanced IT and Computer System in Zimbabwe banking and this has been looted by Interfin and transferred into Interfin Banking Corporation.
The ENG Capital claim remains focused on Interfin Holdings limited and Interfin Banking Corporation since they are they ones who took over the assets and liabilities of CFX –Century Bank. This includes the CFX Bank Holdings Zimbabwe Stock Exchange listing which was taken over and renamed Interfin Holdings Limited all in an elaborate effort to hide the irregular and illegal take over of Century – CFX Bank.