A 27-year-old man, Cleopas Tanatswa Chisingarambwi, has appeared before a Harare magistrate, charged with fraud after allegedly defrauding Innbucks MicroBank Ltd of US$13,700.
Chisingarambwi was granted US$50 bail after admitting to using stolen civil servants’ identities to obtain loans from the microbank. The microbank had a loan facility specifically designed for civil servants, with repayments deducted directly from their salaries.
To apply for a loan, applicants were required to submit various documents, including a payslip, proof of employment, and identification.
Chisingarambwi, working with accomplices Alexio Masasa and Melody Chirodzero (already on remand), obtained the personal details of several civil servants without their knowledge. They then used these details to apply for loans, designating their own accounts as beneficiaries.
The microbank, unaware of the fraud, processed the loans and disbursed the funds to the accused’s accounts.
The scam was discovered when several civil servants noticed unexplained deductions from their salaries. Upon investigation, the microbank realized the beneficiary accounts were not those of the intended recipients.
As a result, the microbank suffered a financial loss of US$13,700, with no recovery in sight.
