Corruption and Incompetence perfected by Mr Reggie Saruchera of Grant Thornton Camelsa, of Grant Thornton International

Mr Reggie Saruchera of Grant Thornton Camelsa, of Grant Thornton International

refused to identify the buyer of our 309 million shares Century Shares whom we believe were his front, connection ,relative or business associates.



When I challenged him in court to identify the buyer instead of responding to court application he applied to the Minister of Justice to have me specified so that I could not challenge him.He applied for my specification maliciously so that he could corruptly dispose off ENG assets with any resistance.



This was a clear attempt to cover his corrupt and incompetent conduct.Mr Reggie Saruchera Managing Partner of Grant Thornton Camelsa, a member firm of Grant Thornton International is at the centre of this dispute with Interfin Banking Corporation due to his corrupt and incompetent handling of the ENG liquidation. In particular his disposal of 309 million Century Holdings shares which we bought for Z$ 35 billion (then equivalent to approximately US $ 17.5 million ) and selling those shares for Z$ 2.9 billion ( then approximately equivalent to US $ 1,5 million).He sold the shares creating a loss of Z$ 32 billion (approximately $ US 16 million).This transaction had all hallmarks or corruption, insider trading and incompetence all rolled into one which forced me to initiate high court action HC 6244-04 . Interfin Banking Corporation due to greed and unchecked appetite for risk thought wise to buy a looted asset which created the current dispute with ENG Capital.



　

Interfin Bank Corporation, Farai Rwodzi,,Raymond Njanike have always known of my claim of this bank since I personally wrote to them and my lawyers Gutu and Chikowero wrote to them well before they got involved and advised them of the dispute and the claim.



Due to greed, incompetence and lack of foresight Interfin Banking Corporation decided to buy what was clearly a stolen asset. And now they are in possession of stolen property which they bought knowing fully it was contested and stolen. For the avoidance of doubt below is one of the letters by my Lawyers Gutu and Chikowero to Interfin Managing Director on the matter.




OUR REF: BC/pmd/44



Monday September 27, 2010



The Managing Director

Interfin Holdings (Pvt) Ltd

15th Floor, NSSA Building

Cnr Sam Nujoma St/Julius Nyerere Way

HARARE



Attention: Mr. R. Njanike



Dear Mr. Njanike



Re: GILBERT FARAI MUPONDA and ENG CAPITAL (PVT) LTD: INTEREST IN CFX FINANCIAL SERVICES (PVT) LTD



We refer to our letter dated August 27, 2010 as well as to other previous correspondence in this matter.



We confirm that our client right from the outset, has been challenging the manner in which ENG Capital (Pvt) Ltd’s shares in Century Bank were disposed of by the liquidator, Mr. R. Saruchera. In fact, our client challenged the transfer of the shares through High Court case No. H.C. 6244/04. His co-director, Mr. Nyasha Watyoka supported this court application. The main thrust of this court application was to block the sale and/or transfer of our client’s shares. Our client owned 309 million shares in Century Bank Limited. With respect, therefore, the assumption that our client does not have a legitimate claim is clearly misplaced. Please note that case number H.C. 6244/04, that was filed in the High Court at Harare in late May 2004 by our client’s then lawyer, the late Mr. Oscar Ziweni, is still pending. For your information and records, herewith we forward a copy of the full court application under case number H.C. 6244/04. Our understanding is that Century Holdings has since been effectively taken over by Interfin Holdings Limited. Further, we understand that Interfin Holdings (Pvt) Ltd assumed all the assets and liabilities of the Century Holdings Limited when they took over CFX Bank which itself had taken over the original Century Bank.



When Mr. Oscar Ziweni passed on, our client was left with no legal representation at that stage and around the same time, he was specified. Fearing for his life, our client had no option but to flee Zimbabwe. Mr. Ziweni died in a very mysterious circumstance and our client had every reason to fear that his own life was also in danger. This is the main reason why he fled Zimbabwe.



The process to have our client de-specified has since been set in motion and we are very confident that within the next few weeks, he will be formally de-specified.



You can be assured that our client will take this matter up with the courts in Zimbabwe as soon as he is formally de-specified.



Yours faithfully



B. CHIKOWERO (MR)



GUTU & CHIKOWERO



cc client



cc The Business Editor



NewsDay



Harare



Attention: Mr. Munyaradzi Mugowo



(This is for your information. In the interest of fairness and balanced reporting, we hope and trust that your newspaper will carry a story that gives our client’s side of the story as set out in our letter to Interfin Holdings Limited).