Farai Rwodzi ,CFX/Interfin Bank Zimbabwe & Muponda ownership dispute Part 2 of 5
by Gilbert Muponda on Monday, September 27, 2010 at 8:34pm
Mr Farai Rwodzi and Interfin Bank Holdings seem to be flip –flopping at an alarming rate 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 .Investors and the public are likely to ask which is which Mr Rwodzi?
These confused and contradictory statements only confirm Interfin and Mr Rwodzi are fully aware of the legitimacy of my claim but simply do not know how to proceed for the fear of losing face or admission of guilty.This is part 2 of 5 the genesis of the dispute by proving beyond any doubt that I have always maintained my 309 million Century Bank Holdings shares were illegally and irregularly converted into CFX shares then into Interfin Bank Holdings shares.
The movement from Century Bank to CFX Bank to CFX/Interfin Banking Corporation clearly shows there is a problem and attempts to conceal and deceive on the initial fraudulent transfer of the Century Shares into CFX Bank then Intern Bank. For that reason we have demanded to know the full identity of the individual or entity who initially “bought” the 309 million shares for which I am demanding US 15.4 million made up of the US 5 cents per share multiplied by 309 million shares.reference is made to High Court Case HC-6244-04
Why is the identity of this buyer such a big mystry.Buyers of 309 million Bank shares are normally proud to be known for such a material acquisition. Why is this buyer still hidden after 6 years of the transaction. What is being hidden by blocking the identity of the “buyer” of the 309 million shares in dispute?
Our legitimate claim to compensation of $ 15.4 million for the 309 million shares is indisputable.Farai Rwodzi and Interfin’s refusal to pay compensation is compensation is groundless and is absolutely not acceptable. Everybody knows that Farai Rwodzi and Interfin built their business on cutting corners and grabbing assets, but the current refusal to pay compensation will make that explicit.
In part 1 of these series I revealed the copy of my original founding affidavit for High Court Case HC-6244-04 blocking the attempted sale and transfer of 309 million shares which triggered this dispute. In this part I reveal the supporting affidavit by my business partner Nyasha Watyoka supporting my motion for High Court Case HC-6244-04.I believe who ever gave Mr Rwodzi the legal opinion on this transaction totally ignored the High Court case HC-6244-04 and its implications of making the share transfer null,void and fraudulent. Below is a copy of the original affidavit signed by my Business Partner Nyasha Watyoka
Wednesday, September 29, 2010
Farai Rwodzi and CFX/Interfin Bank Zimbabwe are misguided
Farai Rwodzi and CFX/Interfin Bank Zimbabwe are misguided
by Gilbert Muponda on Tuesday, September 28, 2010 at 1:38am
Farai Rwodzi and Interfin Bank Zimbabwe are trying to blame me for their arrogance and incompetence as demonstrated by their illegal and irregular take over of my Bank Century/CFX. The problem is that Mr Rwodzi is used to rely on political muscle and force to achieve deals but unfortunately this situation requires more than that.
In their latest instalment they allege I am scaring International partner and investors. I totally refudiate ( borrowing Sarah Palin English) these false and malicious allegations. Interfin are simply looking for a scape goat for their poor judgement in controversially taking over my Bank Century/CFX . They failed to do a proper due diligence even after my lawyers Gutu and Chikowero Attorneys at Law had written to them warning them of the on going ownership wrangle.
In their effort to launder the and hide the fraudulent take over of Century Bank they mistakenly thought they could just take Century/CFX Bank assets including is valuable Moneygram International Franchise and rebrand them as Interfin Banking Corporation.
I have done the responsible thing and advised MoneyGram International to review their relationship with Interfin due to the possibility of reputational risk which is highly likely given how Interfin have decided to handle this through the media. Firstly they falsely claimed to have paid me US$ 5.3 million then suddenly vowed that they will never pay me a cent. The actual amount they owe is US 15.4 million being 309 million multiplied by $ 0.05.
Interfin Bank , Farai Rwodzi and others conspired and connived to illegally and irregularly grab my Bank. This is proven by High Court Case HC 6244-04.Interfin is enjoined in those proceedings by virtue of taking over Century /CFX holdings which is respondent number 6 in HC 6244-4.Interfin assumed all assets and liabilities of CFX/Century Holdings.They are refusing to identify who “bought” the 309 million shares in dispute.
I have been fair and reasonable with Mr Rwodzi and Interfin Bank Zimbabwe .I personally called Mr Farai Rwodzi on his mobile phone and offered to negotiate an amicable settlement. He banged the phone. I sent my little cousin to talk to Mr Njanike who is our relative, he rebuked and mocked her. I sent my lawyers Gutu and Chikowero Attorneys at Law to write to Interfin, but their letters have been ignored. All the way Mr Farai Rwodzi and Interfin have been displaying a high and mighty attitude whilst ignoring a legal and legitimate claim.
In addition I have offered them 2 options to resolve this, Firstly they can pay cash price of $ 15.4 million being 309 million shares times $ 0.05 per share or alternatively issue me with 309 million shares or equivalent in value to the $ 15.4 million.
Lastly this has been a very tragic personal loss for me and at first an apology would have been enough to end the story but all I have had have been false allegations and fabrications being offered as defence by people who ought to be very remorseful. My lawyer Mr Oscar Ziweni ( RIP) who filed High Court case HC 6244-02 died a broken man after his law firm and him were specified and banished for defending me and my Company ENG Capital.
My lawyer who had become more of my big brother was personally humiliated, detained, harassed, intimidated and emotionally blackmailed just to punish him for filing Case HC 6244-04.He then died mysteriously and suspiciously after being stalked and being under siege just to intimidate him from representing me and ENG Capital.
Now Interfin’s so-called International investors and Business Partners have every reason to be jittery if they do business with people who are prepared to go to such an extent to take over assets or pretend such things never happened and carry on business as usual.
by Gilbert Muponda on Tuesday, September 28, 2010 at 1:38am
Farai Rwodzi and Interfin Bank Zimbabwe are trying to blame me for their arrogance and incompetence as demonstrated by their illegal and irregular take over of my Bank Century/CFX. The problem is that Mr Rwodzi is used to rely on political muscle and force to achieve deals but unfortunately this situation requires more than that.
In their latest instalment they allege I am scaring International partner and investors. I totally refudiate ( borrowing Sarah Palin English) these false and malicious allegations. Interfin are simply looking for a scape goat for their poor judgement in controversially taking over my Bank Century/CFX . They failed to do a proper due diligence even after my lawyers Gutu and Chikowero Attorneys at Law had written to them warning them of the on going ownership wrangle.
In their effort to launder the and hide the fraudulent take over of Century Bank they mistakenly thought they could just take Century/CFX Bank assets including is valuable Moneygram International Franchise and rebrand them as Interfin Banking Corporation.
I have done the responsible thing and advised MoneyGram International to review their relationship with Interfin due to the possibility of reputational risk which is highly likely given how Interfin have decided to handle this through the media. Firstly they falsely claimed to have paid me US$ 5.3 million then suddenly vowed that they will never pay me a cent. The actual amount they owe is US 15.4 million being 309 million multiplied by $ 0.05.
Interfin Bank , Farai Rwodzi and others conspired and connived to illegally and irregularly grab my Bank. This is proven by High Court Case HC 6244-04.Interfin is enjoined in those proceedings by virtue of taking over Century /CFX holdings which is respondent number 6 in HC 6244-4.Interfin assumed all assets and liabilities of CFX/Century Holdings.They are refusing to identify who “bought” the 309 million shares in dispute.
I have been fair and reasonable with Mr Rwodzi and Interfin Bank Zimbabwe .I personally called Mr Farai Rwodzi on his mobile phone and offered to negotiate an amicable settlement. He banged the phone. I sent my little cousin to talk to Mr Njanike who is our relative, he rebuked and mocked her. I sent my lawyers Gutu and Chikowero Attorneys at Law to write to Interfin, but their letters have been ignored. All the way Mr Farai Rwodzi and Interfin have been displaying a high and mighty attitude whilst ignoring a legal and legitimate claim.
In addition I have offered them 2 options to resolve this, Firstly they can pay cash price of $ 15.4 million being 309 million shares times $ 0.05 per share or alternatively issue me with 309 million shares or equivalent in value to the $ 15.4 million.
Lastly this has been a very tragic personal loss for me and at first an apology would have been enough to end the story but all I have had have been false allegations and fabrications being offered as defence by people who ought to be very remorseful. My lawyer Mr Oscar Ziweni ( RIP) who filed High Court case HC 6244-02 died a broken man after his law firm and him were specified and banished for defending me and my Company ENG Capital.
My lawyer who had become more of my big brother was personally humiliated, detained, harassed, intimidated and emotionally blackmailed just to punish him for filing Case HC 6244-04.He then died mysteriously and suspiciously after being stalked and being under siege just to intimidate him from representing me and ENG Capital.
Now Interfin’s so-called International investors and Business Partners have every reason to be jittery if they do business with people who are prepared to go to such an extent to take over assets or pretend such things never happened and carry on business as usual.
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.
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.
Farai Rwodzi ,CFX/Interfin Bank Zimbabwe & Muponda ownership dispute Part 4 of 5
Farai Rwodzi ,CFX/Interfin Bank Zimbabwe & Muponda ownership dispute Part 4 of 5
Since I have been documenting the ownership dispute between Mr Farai Rwodzi of Interfin Bank and myself and ENG Capital I have been getting queries as to why I am publicising this.In addition there have been suggestions that I am avoiding court whilst using the media.
This matter is already before the High Court of Zimbabwe as High court case HC 6204-04.Filed in may by my late lawyer Mr Oscar Ziweni.I have attached my founding affidavit for the High court case 6244-04.
Below I reproduce the full letter sent by My Lawyers to Interfin Holdings clearly outlining the legitimacy of my $ 15.4 million claim against Interfin.The claim is a based on the 309 million shares in dispute multiplied by the value per share of $ 0.05 to give a total of US$ 15.4 million.In additon we have also asked Interfin to make us and reasonable offer that we cant refuse.We still await the Interfin settlement offer.
"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)."
Since I have been documenting the ownership dispute between Mr Farai Rwodzi of Interfin Bank and myself and ENG Capital I have been getting queries as to why I am publicising this.In addition there have been suggestions that I am avoiding court whilst using the media.
This matter is already before the High Court of Zimbabwe as High court case HC 6204-04.Filed in may by my late lawyer Mr Oscar Ziweni.I have attached my founding affidavit for the High court case 6244-04.
Below I reproduce the full letter sent by My Lawyers to Interfin Holdings clearly outlining the legitimacy of my $ 15.4 million claim against Interfin.The claim is a based on the 309 million shares in dispute multiplied by the value per share of $ 0.05 to give a total of US$ 15.4 million.In additon we have also asked Interfin to make us and reasonable offer that we cant refuse.We still await the Interfin settlement offer.
"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)."
Monday, September 20, 2010
MoneyGram ,Farai Rwodzi & Interfin Bank perfect partners in crime – Part 1 of 30
MoneyGram ,Farai Rwodzi & Interfin Bank perfect partners in crime – Part 1 of 30
Farai Rwodzi and Interfin Bank Zimbabwe have been refusing or failing to pay me US$ 15.4 million for my 309 million Century/CFX Bank shares which were corruptly ,illegally and irregularly converted into Interfin Banking Corporation shares. Since MoneyGram International have been using my bank infrastructure illegally seized from me and incorporated into CFX/Interfin Bank Zimbabwe I have asked MoneyGram to suspend dealing with CFX/Interfin until the ownership dispute is resolved. MoneyGram have been aiding and abetting the illegal seizure of my bank by continuing to do business with CFX/ Interfin Bank giving credibility and normalcy to an illegal and corrupt act.
MoneyGram have refused to stop dealing with CFX/Interfin Bank which has forced me to do a little back ground check on MoneyGram and how they do business, I have broken down the findings into a 30 part series, this is part 1.I have also created a website to document this www.moneygramexposed.com and www.interfinbank.org .PLEASE VISIT AND SPREAD THE WORD.
MoneyGram International late last year announced that it would pay $18 million to the FTC to settle charges it allowed, facilitated and enabled wire fraud to happen between 2004 and 2008. MoneyGram's press release notes that they disagree with the FTC's view of the matter, but $18 million is a hell of a lot of money to pay if you don't think you were in the wrong. The press release from the FTC, on the other hand, provides plenty of detail illustrating MoneyGram's negligence, as well as the criminal behavior of some of its employees who were in on the frauds.
First, here's how MoneyGram delicately addresses it:
“
"While we don't agree with the FTC`s allegations regarding our fraud prevention in the past, we can agree on fraud prevention today and in the future," said Patsley. "We don`t want our customers being victimized by third-party fraud. What we are announcing today with the FTC is our commitment to enhance our already comprehensive efforts to combat fraud and ensure our customers can continue to rely on MoneyGram for safe, reliable money transfer services."
”
But check out these specific allegations from the FTC's press release, which also came out on the same day (emphasis ours):
“
The FTC charged that between 2004 and 2008, MoneyGram agents helped fraudulent telemarketers and other con artists who tricked U.S. consumers into wiring more than $84 million within the United States and to Canada � after these consumers were falsely told they had won a lottery, were hired for a secret shopper program, or were guaranteed loans. The $84 million in losses is based on consumer complaints to MoneyGram � actual consumer losses likely are much higher.
The FTC charged that MoneyGram knew that its system was being used to defraud people but did very little about it, and that in some cases its agents in Canada actually participated in these schemes. According to the FTC's complaint, MoneyGram knew, or avoided knowing, that about 131 of its more than 1,200 agents accounted for more than 95 percent of the fraud complaints it received in 2008 regarding money transfers to Canada; a similarly small number of agents was responsible for more than 96 percent of all fraud complaints to the company in 2006.
According to a recent FTC survey cited in the complaint, at least 79 percent of all MoneyGram transfers of $1,000 or more from the United States to Canada over a four-month period in 2007 were fraud-induced. The Commission's complaint further stated that based on the more than 20,600 fraud complaints MoneyGram itself received, U.S. consumers lost more than $44 million to cross-border money-transfer frauds between 2004 and 2008 alone. When combined with losses reported by U.S. consumers on money transfers within the United States, that number grows to $84 million.
The FTC's complaint alleges that MoneyGram ignored warnings from law enforcement officials and even its own employees that widespread fraud was being conducted over its network, claiming that proposals to deal with the problem were too costly and were not the company's responsibility. The company even discouraged its employees from enforcing its own fraud prevention policies or taking action against suspicious or corrupt agents. Some employees who raised concerns were disciplined or fired, the FTC charged.
MoneyGram was represented by William MacLeod, Lewis Rose and Jennifer Ngai of Kelley Drye & Warren in Washington. In the settlement, MoneyGram said it was entering the order “solely for the purpose of settlement and nothing contained herein may be taken or construed to be an admission or concession of any violation of law.”
(Vladeck -(FTC Official) at the press conference countered, “If MoneyGram felt any of the allegations were incorrect, they shouldn’t have settled the case.”).
I have given Farai Rwodzi and Interfin Bank 2 clear options
1 - Pay cash US $ 15.4 million ( 309 million shares multiplied by 5 cents per share)
2 - Or issue 309 million shares in Interfin Financial Holdings to me and my Company ENG Capital.
In typical Moneygram modus operandi Farai Rwodzi and Intefin Bank Zimbabwe have tried to pretend they do things above board despite overwhelming evidence to show otherwise .It is clear that Farai Rwodzi and Interfin Banking Corporation have found a perfect partner to do illegal deals and cover up the illegal seizure of my Bank for mutual profit. They both put up a false impression of being upright business entities when its clear they will break and all laws as long as they are not caught and held to account for their actions.
This article appears courtesy of GMRI CAPITAL – www.gmricapital.com . It is original content 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.MupondaTwitter ;
http://twitter.com/gmricapital:
1-416-841-5542
Farai Rwodzi and Interfin Bank Zimbabwe have been refusing or failing to pay me US$ 15.4 million for my 309 million Century/CFX Bank shares which were corruptly ,illegally and irregularly converted into Interfin Banking Corporation shares. Since MoneyGram International have been using my bank infrastructure illegally seized from me and incorporated into CFX/Interfin Bank Zimbabwe I have asked MoneyGram to suspend dealing with CFX/Interfin until the ownership dispute is resolved. MoneyGram have been aiding and abetting the illegal seizure of my bank by continuing to do business with CFX/ Interfin Bank giving credibility and normalcy to an illegal and corrupt act.
MoneyGram have refused to stop dealing with CFX/Interfin Bank which has forced me to do a little back ground check on MoneyGram and how they do business, I have broken down the findings into a 30 part series, this is part 1.I have also created a website to document this www.moneygramexposed.com and www.interfinbank.org .PLEASE VISIT AND SPREAD THE WORD.
MoneyGram International late last year announced that it would pay $18 million to the FTC to settle charges it allowed, facilitated and enabled wire fraud to happen between 2004 and 2008. MoneyGram's press release notes that they disagree with the FTC's view of the matter, but $18 million is a hell of a lot of money to pay if you don't think you were in the wrong. The press release from the FTC, on the other hand, provides plenty of detail illustrating MoneyGram's negligence, as well as the criminal behavior of some of its employees who were in on the frauds.
First, here's how MoneyGram delicately addresses it:
“
"While we don't agree with the FTC`s allegations regarding our fraud prevention in the past, we can agree on fraud prevention today and in the future," said Patsley. "We don`t want our customers being victimized by third-party fraud. What we are announcing today with the FTC is our commitment to enhance our already comprehensive efforts to combat fraud and ensure our customers can continue to rely on MoneyGram for safe, reliable money transfer services."
”
But check out these specific allegations from the FTC's press release, which also came out on the same day (emphasis ours):
“
The FTC charged that between 2004 and 2008, MoneyGram agents helped fraudulent telemarketers and other con artists who tricked U.S. consumers into wiring more than $84 million within the United States and to Canada � after these consumers were falsely told they had won a lottery, were hired for a secret shopper program, or were guaranteed loans. The $84 million in losses is based on consumer complaints to MoneyGram � actual consumer losses likely are much higher.
The FTC charged that MoneyGram knew that its system was being used to defraud people but did very little about it, and that in some cases its agents in Canada actually participated in these schemes. According to the FTC's complaint, MoneyGram knew, or avoided knowing, that about 131 of its more than 1,200 agents accounted for more than 95 percent of the fraud complaints it received in 2008 regarding money transfers to Canada; a similarly small number of agents was responsible for more than 96 percent of all fraud complaints to the company in 2006.
According to a recent FTC survey cited in the complaint, at least 79 percent of all MoneyGram transfers of $1,000 or more from the United States to Canada over a four-month period in 2007 were fraud-induced. The Commission's complaint further stated that based on the more than 20,600 fraud complaints MoneyGram itself received, U.S. consumers lost more than $44 million to cross-border money-transfer frauds between 2004 and 2008 alone. When combined with losses reported by U.S. consumers on money transfers within the United States, that number grows to $84 million.
The FTC's complaint alleges that MoneyGram ignored warnings from law enforcement officials and even its own employees that widespread fraud was being conducted over its network, claiming that proposals to deal with the problem were too costly and were not the company's responsibility. The company even discouraged its employees from enforcing its own fraud prevention policies or taking action against suspicious or corrupt agents. Some employees who raised concerns were disciplined or fired, the FTC charged.
MoneyGram was represented by William MacLeod, Lewis Rose and Jennifer Ngai of Kelley Drye & Warren in Washington. In the settlement, MoneyGram said it was entering the order “solely for the purpose of settlement and nothing contained herein may be taken or construed to be an admission or concession of any violation of law.”
(Vladeck -(FTC Official) at the press conference countered, “If MoneyGram felt any of the allegations were incorrect, they shouldn’t have settled the case.”).
I have given Farai Rwodzi and Interfin Bank 2 clear options
1 - Pay cash US $ 15.4 million ( 309 million shares multiplied by 5 cents per share)
2 - Or issue 309 million shares in Interfin Financial Holdings to me and my Company ENG Capital.
In typical Moneygram modus operandi Farai Rwodzi and Intefin Bank Zimbabwe have tried to pretend they do things above board despite overwhelming evidence to show otherwise .It is clear that Farai Rwodzi and Interfin Banking Corporation have found a perfect partner to do illegal deals and cover up the illegal seizure of my Bank for mutual profit. They both put up a false impression of being upright business entities when its clear they will break and all laws as long as they are not caught and held to account for their actions.
This article appears courtesy of GMRI CAPITAL – www.gmricapital.com . It is original content 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.MupondaTwitter ;
http://twitter.com/gmricapital:
1-416-841-5542
Sunday, September 19, 2010
John Moxon,Meikles Africa,Farai Rwodzi ,Mujuru & Interfin Bank cartel must be dismantled part 1 0f 10.
This is part one of a 10 part series to document why and how the John Moxon,Meikles Africa,Farai Rwodzi ,Mujuru & Interfin Bank cartel (The Cartel) must be dismantled.It must be noted when Kingdom Meikles Africa Limited and John Moxon were specified I wrote various articles criticizing the Governments move in the specification and opposed any attempt to seize Meikles Africa Limited under any excuse.My views remain I still believe Meikles Africa Limited must operate as an independent business free from any politics or political interferences.However it is clear that Mr Moxon and Meikles Africa may have mis-calculated in their appointment of Generel Mujuru's errand-boy-cum-business partner and front Farai Rwodzi as the Meikles Africa Chairman.This relationship will expose both Moxon and Meikles Africa to severe reputational risk which maybe almost impossible to mitigate.
This cartel is greedy and will stop at nothing to grab businesses and assets.It is now well documented how they tried to grab Kingdom Bank from its Founder.The intention was to merger Kingdom with CFX./Interfin Banking Corporation.
The problem with this level of unchecked greed is that its a threat to national security as few individuals seek to control all meaningful assets,businesses and resources in the country.This causes national instability and agitation as the allocation of resources becomes skewed and unsustainable.
Farai Rwodzi and Interfin Banking Corrporation have been behaving like a corporate hooligans totally devoid of any reasoning such that its hard to grasp why the Meikles Board and the Interfin Board keep Farai Rwodzi as Chairman besides political muscle borrowed from Mujuru.
Farai Rwodzi and Interfin Bank illegally and irregularly grabbed my 309 million shares worth 5 cents each in Century Bank which were fraudulently converted into CFX Bank then finally into CFX/ Interfin Banking Corporation.
I have given Farai Rwodzi and Interfin Bank 2 clear options
1 - Pay cash US $ 15.4 million ( 309 million shares multiplied by 5 cents per share)
2 - Or issue 309 million shares in Interfin Financial Holdings to me and my Company ENG Capital.
However because of the John Moxon and Meikles Africa backing and resources plus the General Mujuru political muscle Farai Rwodzi has tried to ignore the claim only making one flase claim that he has paid me US $ 5.3 million.
This irresponsible behaviour and actions by Farai Rwodzi and Intefin Bank are clear grounds to terminate a business relationship , which is what Mr Moxon should have done long ago.But because he is now to deeply involved with this cartel he finds it difficult if not impossible to leave this asset plundering and grabbing cartel.However if he insists on leaving Farai Rwodzi as Chairman of Meikles Africa and let him him throw his weight around on the basis of the Meikles Africa balance sheet and resources the Meikles Africa shareholder,investors,Management and other stakeholders should be asking themselves if thats what they would want their name assoiciated with since the reputational risk only continue to grow as the cartels's activities are exposed and documented.
This article appears courtesy of GMRI CAPITAL – www.gmricapital.com . It is original content 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
This cartel is greedy and will stop at nothing to grab businesses and assets.It is now well documented how they tried to grab Kingdom Bank from its Founder.The intention was to merger Kingdom with CFX./Interfin Banking Corporation.
The problem with this level of unchecked greed is that its a threat to national security as few individuals seek to control all meaningful assets,businesses and resources in the country.This causes national instability and agitation as the allocation of resources becomes skewed and unsustainable.
Farai Rwodzi and Interfin Banking Corrporation have been behaving like a corporate hooligans totally devoid of any reasoning such that its hard to grasp why the Meikles Board and the Interfin Board keep Farai Rwodzi as Chairman besides political muscle borrowed from Mujuru.
Farai Rwodzi and Interfin Bank illegally and irregularly grabbed my 309 million shares worth 5 cents each in Century Bank which were fraudulently converted into CFX Bank then finally into CFX/ Interfin Banking Corporation.
I have given Farai Rwodzi and Interfin Bank 2 clear options
1 - Pay cash US $ 15.4 million ( 309 million shares multiplied by 5 cents per share)
2 - Or issue 309 million shares in Interfin Financial Holdings to me and my Company ENG Capital.
However because of the John Moxon and Meikles Africa backing and resources plus the General Mujuru political muscle Farai Rwodzi has tried to ignore the claim only making one flase claim that he has paid me US $ 5.3 million.
This irresponsible behaviour and actions by Farai Rwodzi and Intefin Bank are clear grounds to terminate a business relationship , which is what Mr Moxon should have done long ago.But because he is now to deeply involved with this cartel he finds it difficult if not impossible to leave this asset plundering and grabbing cartel.However if he insists on leaving Farai Rwodzi as Chairman of Meikles Africa and let him him throw his weight around on the basis of the Meikles Africa balance sheet and resources the Meikles Africa shareholder,investors,Management and other stakeholders should be asking themselves if thats what they would want their name assoiciated with since the reputational risk only continue to grow as the cartels's activities are exposed and documented.
This article appears courtesy of GMRI CAPITAL – www.gmricapital.com . It is original content 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
Saturday, September 18, 2010
Rwodzi ,Mujuru and Interfin Bank money laundering web Part 7 of 10
Rwodzi ,Mujuru and Interfin Bank money laundering web Part 7 of 10
This is the seventh of a 10 part series meant to document the excessive asset grabbing and looting being done by the Farai Rwodzi-Mujuru-Interfin Bank Zimbabwe syndicate. Farai Rwodzi through Interfin Bank grabbed CFX Bank under very controversial circumstances and have tried to hide their tracks by rebranding it as Interfin Banking Corporation.This is the very same tactic that was being attempted on Kingdom Bank where Rwodzi in partnership with John Moxon backed by Mujuru have been trying to take-over the bank and kick out its Founder Nigel Chanakira.Farai Rwodzi needs to pay me what he owes before acting as Meikles Africa strong man and enforcer as this only makes this more intense.
Their plan and main aim is to keep mixing many looted assets such that the victims lose track of their original grabbed assets. They are trying to make the reversal of their lootinn and grabbing almost impossible to track and reverse. Their ultimate aim was to combine CFX Bank with Interfin Bank and Kingdom Bank. Its sad that a respectable man like Mr John Moxon has chosen to partner with such a cartel.
Farai Rwodzi and Interfin Bank owe me and my company ENG Capital US $ 15.4 million. They illegally and irregularly took over my 309 million shares in Century/CFX Bank which I held through my Company ENG Capital. The 309 million shares were valued at 5 cents per share which makes total prejudice to US $ 15.4 million.
It is strange and disappointing that Farai Rwodzi,Meikles Africa Limited and John Moxon have been holding Nigel Chanakira and Kingdom hostage asking him to pay for their stake in cash when Farai Rwodzi and Interfin Bank owe me $ 15.4 million which they have failed or refused to pay for my 309 million Century shares which were illegally and irregularly converted into CFX Bank shares then finally into Interfin Bank Holdings shares.
Farai Rwodzi and Interfin have been ignoring the fact that rebranding alone is not sufficient to extinguish debt.Any successor Bank to CFX/Interfin Bank will have to settle this claim.Their recent false claim in the Newsday newspaper that I had been paid $ 5.3 million for shares worth US$ 15.4 million only shows the lack of seriousness on the individuals involved.
Whilst Farai Rwodzi and Meikles are busy chasing Nigel it would be better if they first tried paying their own debts before putting a holier than thou attitude. Charity begins at home which is a lesson that seems to have been missed by the Farai Rwodzi-Mujuru-Meikles-Interfin Bank Zimbabwe syndicate and cartel .Farai Rwodzi , Meikles Africa Limited and Interfin Bank cannot and should not hold other institutions and individuals at ransom just to get payment on your terms whilst refusing to pay those you owe.
Farai Rwodzi and Interfin Bank needs to me and ENG Capital US $ 15.4 million for the looted 309 million shares in Century/CFX Bank before acting as enforcers on behalf of John Moxon and Meikles Africa Limited.
Farai Rwodzi has acted as financial Advisor and facilitator and custodian of the looting syndicate and cartel at Interfin Bank which he co-owns with the Mujurus and other related politicians.Most of the proceeds of the looting spree end up at Interfin Bank Zimbabwe chaired by Farai Rwodzi resulting in Interfin Banking Corporation always claiming to be “the cash rich Group” .Its clear where the cash is coming from.
This article appears courtesy of GMRI CAPITAL – www.gmricapital.com . It is original content 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
This is the seventh of a 10 part series meant to document the excessive asset grabbing and looting being done by the Farai Rwodzi-Mujuru-Interfin Bank Zimbabwe syndicate. Farai Rwodzi through Interfin Bank grabbed CFX Bank under very controversial circumstances and have tried to hide their tracks by rebranding it as Interfin Banking Corporation.This is the very same tactic that was being attempted on Kingdom Bank where Rwodzi in partnership with John Moxon backed by Mujuru have been trying to take-over the bank and kick out its Founder Nigel Chanakira.Farai Rwodzi needs to pay me what he owes before acting as Meikles Africa strong man and enforcer as this only makes this more intense.
Their plan and main aim is to keep mixing many looted assets such that the victims lose track of their original grabbed assets. They are trying to make the reversal of their lootinn and grabbing almost impossible to track and reverse. Their ultimate aim was to combine CFX Bank with Interfin Bank and Kingdom Bank. Its sad that a respectable man like Mr John Moxon has chosen to partner with such a cartel.
Farai Rwodzi and Interfin Bank owe me and my company ENG Capital US $ 15.4 million. They illegally and irregularly took over my 309 million shares in Century/CFX Bank which I held through my Company ENG Capital. The 309 million shares were valued at 5 cents per share which makes total prejudice to US $ 15.4 million.
It is strange and disappointing that Farai Rwodzi,Meikles Africa Limited and John Moxon have been holding Nigel Chanakira and Kingdom hostage asking him to pay for their stake in cash when Farai Rwodzi and Interfin Bank owe me $ 15.4 million which they have failed or refused to pay for my 309 million Century shares which were illegally and irregularly converted into CFX Bank shares then finally into Interfin Bank Holdings shares.
Farai Rwodzi and Interfin have been ignoring the fact that rebranding alone is not sufficient to extinguish debt.Any successor Bank to CFX/Interfin Bank will have to settle this claim.Their recent false claim in the Newsday newspaper that I had been paid $ 5.3 million for shares worth US$ 15.4 million only shows the lack of seriousness on the individuals involved.
Whilst Farai Rwodzi and Meikles are busy chasing Nigel it would be better if they first tried paying their own debts before putting a holier than thou attitude. Charity begins at home which is a lesson that seems to have been missed by the Farai Rwodzi-Mujuru-Meikles-Interfin Bank Zimbabwe syndicate and cartel .Farai Rwodzi , Meikles Africa Limited and Interfin Bank cannot and should not hold other institutions and individuals at ransom just to get payment on your terms whilst refusing to pay those you owe.
Farai Rwodzi and Interfin Bank needs to me and ENG Capital US $ 15.4 million for the looted 309 million shares in Century/CFX Bank before acting as enforcers on behalf of John Moxon and Meikles Africa Limited.
Farai Rwodzi has acted as financial Advisor and facilitator and custodian of the looting syndicate and cartel at Interfin Bank which he co-owns with the Mujurus and other related politicians.Most of the proceeds of the looting spree end up at Interfin Bank Zimbabwe chaired by Farai Rwodzi resulting in Interfin Banking Corporation always claiming to be “the cash rich Group” .Its clear where the cash is coming from.
This article appears courtesy of GMRI CAPITAL – www.gmricapital.com . It is original content 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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