SME Bank: Asset seizures coming
17 April 2019 | Banking
Zimbabweans implicated in the raiding of the SME Bank have until 14 June to explain why the deputy sheriff of the High Court should not attach certain of their Namibian assets.
Judge Collins Parker granted an order on 4 March, which gives the go-ahead to attach assets left behind by former non-executive SME Bank board member Kamushinda, former CEO Tawanda Mumvuma, former finance manager Joseph Banda, former administrative assistant Chiedza Goromonzi and lawyer Lyndon Gaidzanwa.
The five Zimbabweans, “together with any other wrongdoers”, are being jointly and severally sued for over N$347 million, plus 20% per annum, which was lost at the bank. These assets include Kamushinda's membership in Monsoon Investments CC, Mid-Way Properties CC and Azores Business Consultants CC, as well as his ordinary shares held in Greytal Investments (Pty) Ltd and in Axtro Investments (Pty) Ltd. They also include Kamushinda's Windhoek Golf Estate house, Banda's property in Guinas Court, four pairs of shoes and a leather-bound diary left behind on Gaidzanwa's desk at the SME Bank, N$2 200 and three books found on Mumvuma's desk and Gaidzanwa's membership in Flem Capital Investments CC. The N$2 200 found in Mumvuma's desk was in South African currency.
The three books are ironically titled Every Day a Friday, Fasting: Opening the door to a deeper, more intimate, more powerful relationship with God and Money laundering affects us all.