Harare regional magistrate Mr Noel Mupeiwa has acquitted Lewis Matutu and his four accomplices on charges of fraudulently seizing shares from Shisib Investments, a mining company, in a case where the State alleged a US$150,000 prejudice, Mining Zimbabwe can report.
By Rudairo Mapuranga
Matutu was jointly charged with Blessing Kusangaya, Tafadzwa Kusangaya, Muzimba Muhamba, and Chikwasha Muhamba.
The State’s case alleged that the group used forged company annual returns from 2014 to 2017, which were lodged with the Registrar of Companies, to falsely indicate changes in shareholding and directorship. “As a result, the accused persons allotted themselves shares and became majority shareholders,” the prosecution argued.
This alleged fraudulent takeover came to a head in September 2024, when the Zimbabwe Parks and Wildlife Management Authority informed the original complainant that the accused had directed the suspension of mining operations, claiming shareholders had agreed to sell the mining claim.
Furthermore, using the disputed shareholding, the accused allegedly attended the company’s annual general meeting on November 19, 2024, where they removed the complainant from the board and resolved to change the company’s registered address.
According to the State, Shisib Investments suffered an actual prejudice of US$150,000, and nothing was recovered.
However, in his ruling, Magistrate Mupeiwa stated that the case collapsed after the complainant exonerated the accused. The key testimony came when the complainant confirmed that the Shisib Investments company’s annual returns for the years in question were not forged by any of the accused persons. With the foundation of the State’s case undermined, the court had no basis to convict, leading to the acquittal of all five individuals.
