P4 million fraud suspect in court

ISAAC PINIELO
Correspondent | Friday September 9, 2011 00:00

Presenting the case on Monday, the state told the court that the accused person, Tiro Masimege,40, fraudulently removed and sold stock from Panda Plant amounting to about P4 million between the period June 2008 and October 2010. Prosecutor Careb Mbenda told court that the accused person created credit accounts for some of the companies, namely Block Holdings and DC Constructions, which did not have such accounts with Panda. He further told court that the suspect activated the dormant account of another company, Bakgoni Building Construction, and increased its credit limit. Different companies which had credit accounts with Panda, such as  Rockefeller also had their credit limit increased by the accused person. The accused is said to have then supplied different contractors and individuals with materials from Panda using the companies affected. The state told court that payment for the stock that the accused person reportedly obtained was then made in the form of cash or cheques written in the names of the accused person's business companies, namely Nuwa and Sons, Potlako Tiro Holdings and Greeny Zone.

He also gave some of this money to his employees, 27-year-old Mothusi Mmolawa of Tonota and 28-year-old Thuto Moloi of Gaborone. They are both co-accused in the fraud case.

Presiding magistrate, Thebeetsile Mulalu adjourned the case to October 6, to give the second accused person time to find legal representation.  Attorneys Moabi Madandume and Nfila Nfila represent the first and third accused persons respectively. In a separate matter, magistrate Mulalu granted bail to a principal of TKM College in Francistown who is facing the charge of stealing by servant.

The accused principal, Jonathan Nganungu, aged 40, is accused of stealing P26,650 that belonged to the college on June 22nd 2010.

The accused, a Zimbabwean national, has been ordered to surrender his travel documents to the police and to report to Central Police Station once a week.He shall appear in court again for mention on October 6.