Story by Peter Chivhima
Tobacco Industry Marketing Board (TIMB) chairperson, Patrick Devenish and former chief executive officer Meanwell Gudu will spend the weekend behind bars after they were remanded in custody on fraud allegations.
Devenish and Gudu, who are accused of fraudulently advancing a loan facility of over US$400 000 in 2021, challenged their placement on remand when they appeared before a Harare court this Saturday.
The State, however, opposed the application, prompting the presiding magistrate to postpone the matter to Monday.
The pair was therefore remanded in custody.
Allegations are that Devenish and Gudu fraudulently advanced a loan facility to Ultime Accolade Private Limited in May 2021 without the knowledge or approval of the full TIMB board.
Gudu’s arrest comes barely 48 hours after the State withdrew charges against him in yet another fraud related case involving US$2 million.
