Zim executives probed over US$40 million diamond funds

Monday, August 16, 2010

HARARE - The state-owned Zimbabwe Mining Development Corporation (ZMDC) is investigating suspended chief executive and general manager Dominic Mubayiwa and three other company executives over the siphoning of US$40 million in gold and diamond proceeds.

The probe comes as questions are being raised within ZMDC and in public about Mubayiwa's building of a huge mansion in Borrowdale.

ZMDC is trying to establish if there is a connection between the misuse of its funds and activities of the company's top management, including Mubayiwa's project. Repeated efforts to contact Mubayiwa over the issue were unsuccessful on Friday.

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