ZACC Set Its Sights On Yet Another NetOne Director

ZACC is reportedly probing NetOne Non-Executive Director Rangarirai Mathias Mavhunga for not revealing his personal interest in a transaction involving FMC Holdings Limited and NetOne, Business times reports.

According to the publication NetOne entered into an agreement with FMC Holdings which would see NetOne facilities its customers acquire microfinance loans from FMC.

According to an affidavit filed by the investigating detective Collius Mushambi:

When the agreement was entered between the two parties, the accused did not disclose to NetOne Cellular board his involvement in FMC which might have favoured FMC to obtain the facility in contravention of Section 173 (1) (a) (ii) of the Criminal Law and Codification and Reform Act

A warrant of search and seizure signed by Magistrate Tendai Muchini reads in part;

To the peace officers and other officers of the law, proper to the execution of criminal law warrants, whereas from information taken upon oath before myself, there are reasonable grounds for believing that NetOne Cellular is in possession or control of the following documents and records which are required as exhibits in a criminal docket and that is necessary for the purpose of investigating or detecting a case of corruptly concealing from a principal, a personal interest in a transaction.

These are therefore in the state’s name to command you to proceed to NetOne Cellular and there from immediately obtain and take into custody the mentioned articles and take them to a police station or other place of safety until the matter is finalised or until you further receive orders from the Court

Efforts to get a commend from Mavhunga failed as he could not be reached to speak to editors.

More: Business Times 

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