Sunday, March 27, 2011

Interfin Banking Corporation fraud on CFX Bank unpacked 2 of 5



Interfin Bank Directors led by MD Raymond Njanike and Chairman Farai Rwodzi are getting increasingly desperate to hide their tracks on the illegal and irregular take over of Century – CFX Bank assets which were illegally transferred into Interfin Bank and rebranded Interfin Banking Corporation. Their lastest stunt of claiming to ``liquidate`` CFX Bank is one such effort to conceal their fraudulent take over of Century – CFX Bank assets and stealthily transferring them into Interfin Bank and rename the resultant entity Interfin Banking Corporation.
After claiming a successful merger as anticipated in this report by Dumisani Ndlela http://www.financialgazette.co.zw/companies-a-markets/4525-cfx-fs-to-lose-bank-for-bigger-entity.html in June 2010 only 9 months later CFX Bank now rebranded Interfin Banking Corporation is being liquidated http://www.newsday.co.zw/article/2011-03-14-cfx-to-windup-operations . This only proves underlying ownership dispute between ENG Capital ,Gilbert Muponda and Interfin Bank alongside MD Raymond Njanike and Chairman Farai Rwodzi .
If the merger was successful why would Interfin Directors led by MD Raymond Njanike and Chairman Farai Rwodzi claim to liquidate CFX Bank when in reality CFX Bank is now Interfin Banking Corporation since all its branch network and asset have been transferred into Interfin Banking Corporation and rebranded accordingly in an effort to hide the fraudulent seizure of Century Bank which was renamed CFX Bank then now rebranded Interfin Banking Corporation. This is an effort to avoid paying legitimate liabilities owed to ENG Capital for its assets illegally incorporated into Interfin Banking Corporation.
There can be no talk of liquidating CFX Bank since CFX Assets have been merged with Interfin and effectively transferred into Interfin Banking Corporation and rebranded Interfin Banking Corporation in an a deliberate fraudulent effort to hide the illegal take over of Century – CFX Bank assets and network.
Specifically the assets below have been stripped from CFX Bank and transferred into Interfin Banking Corporation. IT and Computer Systems
- MoneyGram Money Transfer Franchise and System
- Branch Network
- Customers , clients and loan Book
- International Correspondent Bank Network
- Management and Staff
- Leases,Contracts and general goodwill
- Buildings and offices
- ZSE Listing Spot

CFX Bank had the most advanced IT and Computer System in Zimbabwe banking and this has been looted by Interfin and transferred into Interfin Banking Corporation.
The ENG Capital claim remains focused on MD Raymond Njanike , Chairman Farai Rwodzi , Interfin Holdings limited and Interfin Banking Corporation since they are they ones who took over the assets and liabilities of CFX –Century Bank. Their fraudulent attempt to mislead the investing public and depositors that the ownership dispute will disappear just because they are attempting to fake a liquidation of a Bank whose assets they have transferred into another entity is totally irresponsible and disingenuous.
MD Raymond Njanike , Chairman Farai Rwodzi , Interfin Holdings limited and Interfin Banking Corporation continue to mislead the public and other stakeholders by devising fraudulent schemes as a way to avoid settling what is due to Gilbert Muponda and ENG Capital.
Interfin Bank and its Directors led by Farai Rwodzi are guilty of misleading customers and investing public into buying worthless Interfin Holdings shares .Interfin owes Gilbert Muponda and ENG Capital US 15.4 million for the 309 million shares fraudulently converted from Century Bank into CFX Bank then Interfin Banking Corporation. And they are trying to escape paying this liability by claiming CFX Bank is being liquidated.


Interfin Bank Directors particularly MD Raymond Njanike and Chairman Farai Rwodzi are acting irresponsibly by failing to handle a legitimate claim and responding by plastering a cracked wall which tantamount to the proverbial ostrich putting its head in the sand.

Thursday, March 24, 2011

Interfin Banking Corporation fraud on CFX Bank unpacked - 1 of 5


Interfin Baning Corporation fraud on CFX Bank unpacked - 1 of 5

According to All Africa website CFX Bank merged with Interfin Bank and the merger was approved http://allafrica.com/stories/201011180051.html . However if the merger was approved by all the regulatory Authorities then why would Interfin try to liquidate a Bank which it merged with. It clearly doesn’t make any sense to liquidate a Bank which has already been merged with another . Its not legally possible and its practically fictitious to claim to liquidate a Bank which has already merged with another resulting in the formation of a new entity.

Interfin Banking Corporation Zimbabwe is a product of a fraudulent merger between Interfin Merchant Bank and CFX Bank which was subsequently renamed Interfin Banking Corporation after another irregular merger between Century/CFX Bank Limited and Interfin Bank Zimbabwe. Any further transaction or re-organization or restructuring will not change the facts that Interfin Banking Corporation has a disputed ownership due to the presence of CFX Bank assets in its DNA composition.


The so-called liquidation of CFX Bank is nothing but a fraud being perpetrated by Interfin Holdings Directors led by MD Raymond Njanike and Chairman Farai Rwodzi. There is no liquidation taking place whatsoever since all the CFX assets have already been ``merged`` and transferred into the new entity now renamed Interfin Banking Corporation. This is an effort to hide the tracks of the original fraud which is being challenged under High Court case HC 6244-04.This is an effort to escape legitimate liabilities brought about by Interfin`s unwise and greed move of trying to grab CFX Bank assets.

Interfin can not fully capitalize a Bank and then liquidate the same bank all within a year .According to another report titled Interfin Holdings Fully Capitalises CFX Bank Published on 13 January 2010 - http://allafrica.com/stories/201001130248.html . This does not add up and only provides further evidence that Interfin Banking Corporation are involved in fraudulent transaction and the various movements are meant to hide the tracks and cleanse an otherwise illegal and underhand deal.
There can be no talk of liquidating CFX Bank since CFX Assets have been merged with Interfin and effectively transferred into Interfin Banking Corporation and rebranded Interfin Banking Corporation in an a deliberate fraudulent effort to hide the illegal take over of Century – CFX Bank assets and network.
Specifically the assets below have been stripped from CFX Bank and transferred into Interfin Banking Corporation. IT and Computer Systems
- MoneyGram Money Transfer Franchise and System
- Branch Network
- Customers , clients and loan Book
- International Correspondent Bank Network
- Management and Staff
- Leases,Contracts and general goodwill
- Buildings and offices
- ZSE Listing Spot

CFX Bank had the most advanced IT and Computer System in Zimbabwe banking and this has been looted by Interfin and transferred into Interfin Banking Corporation.
The ENG Capital claim remains focused on Interfin Holdings limited and Interfin Banking Corporation since they are they ones who took over the assets and liabilities of CFX –Century Bank. This includes the CFX Bank Holdings Zimbabwe Stock Exchange listing which was taken over and renamed Interfin Holdings Limited all in an elaborate effort to hide the irregular and illegal take over of Century – CFX Bank.