Cotton Company of Zimbabwe (Cottco) directors who were arrested last week for swindling the company of $2 million face additional charges of $10,3 million fraud. The fresh charges come as a result of an investigation carried out by the Zimbabwe Anti-Corruption Commission (ZACC). Pius Manamike (51), who is managing director; Brighton Chibhamu (37), head of finance and Lameck Machumi (32), the sales and marketing officer, appeared before Harare magistrate Rumbidzai Mugwagwa facing fraud charges.
Speaking to the Daily News ZACC Commissioner in charge of investigation Goodson Nguni said
Further investigations have revealed that Cottco lost more money than initially known. We have just added a $10,3 million charge on top of the previous charge for which they are on bail. They will be joined by two others, a J Dube and one Mugura.
Read Also: Cottco boss arrested over US$2 Million Fraud
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