Story by Parvel Makona
A Harare businessman, Mr Jameson Rushwaya, is reportedly facing challenges in recovering up to US$5 million, which he allegedly lost after shares belonging to his company were unlawfully transferred into another person’s name.
Mr Rushwaya is said to have lost shares in a company known as Tolrose Investments (Private) Limited in 2018.
Court papers indicate that the suspected fraudster, Patterson Timba, aged 58, allegedly forged company documents and posed as the Director of Tolrose Investments before transferring Jameson Rushwaya’s shares to his company, Swimming Pool and Underwater Repairs [Pvt] Limited.
Timba is said to have used fabricated share certificates under the guise of setting a judgment debt owed to Tetrad Bank.
As a result, Jameson Rushwaya allegedly suffered financial loss.
Timba was remanded in custody when he appeared at the Harare Magistrates Court this Tuesday and will be back this Wednesday for a bail application.
