As the Century/CFX-Interfin Commercial Bank (IBC) dispute continues it is necessary to keep track on how this has been developing. When Finance Bank of Zambia backed by Credit Suisse pulled out of their planned investment from CFX Bank after confirming the share ownership dispute it became clear CFX Bank brand needed to resolve the ownership dispute. However the then CFX management and Shareholders connived with Farai Rwodzi and Interfin Bank Zimbabwe to try and hide the tracks of the fraud committed against me when the bank was seized from me.
It is important to note that any successor Institution which will take over Century/CFX Bank assets and Infrastructure and ZSE seat will continue to have this Ownership wrangle stigma until the matter is amicably resolved.Farai Rwodzi and Interfin Bank by trying to lauder this fraud and covering up the illegal asset seizures have opened themselves to severe reputation risk which will affect their operations and ability to do business beyond Zimbabwe. Below is a note I prepared in 2009 in response to some propaganda from the THEN Government of Zimbabwe,CFX lawyers and Shareholders who were working in cahoots with Farai Rwodzi and Interfin Bank Zimbabwe preparing to sanitize their then anticipated takeover of my Bank CFX Bank –Zimbabwe-
“The Government of Zimbabwe’s attempted frivolous rebuttal to ENG Capital’s legitimate claim actually confirms ENG Capital’s ownership of the disputed 309 million shares and ownership of Century/CFX Bank. Their only purported defence is that you should have complained earlier or you are specified so you cant do anything about it. This is just hiding behind technicalities without any real or meaningful response to a legitimate claim.
It is common knowledge that I was detained, arrested ,tortured and specified. The legal counsel Mr, Ziweni, whom I hired to represent ENG Capital, suffered the same fate, was arrested, harassed, intimidated, specified and unfortunately died under mysterious circumstances.
As I languished in remand prison, the RBZ Governor, Gideon Gono, embarked on an orgy of ENG Capital asset stripping and with the assistance of the body politic gained political mileage with a sustained Muponda vilification crusade. As part of this asset stripping the 309 million shares were “bought” by Gono’s front Network Investments , Kwangari Enterprises and others.
Zimbabweans were made to believe that ENG was bankrupt and that its only assets were expensive cars. To the contrary ENG was a solid financial services company which owned a bank – Century and had other tangible assets that far exceeded the liabilities, concocted by Gideon Gono. The rebuttal by the Government’s lawyer confirms ENG Capital owned Century/CFX Bank.
Please note that the very person, Gideon Gono, who declared ENG bankrupt, is the same person who sought my specification and is the same person who then authorized the disposal of the 309 million shares. This same person was also the beneficiary of the irregular disposal of the 309 million Century /CFX shares in collusion with the Zimbabwe Stock Exchange who violated various regulations meant to protect investors in a public company.
The government further claims that, “The transaction was done in 2004”, and “in terms of the Prevention of Corruption Act, Muponda is not able to conduct any material transaction on his behalf in respect of any companies he has invested in.”
The above statement assumes that I seek relief and am pursuing my claim through the compromised and tainted Zimbabwean judicial system, which the same system is willing to be used by corrupt politicians to punish the innocent while sanitizing financial fraud by elected officials. This partisan court system was the same used strip me of my legal rights and used to brand me a criminal without due process or the prospect of Habeas corpus.
As you maybe aware I am seeking the return and or compensation for 309 million Century Holdings Shares which were fraudulently and corruptly sold to a group of politicians including RBZ Governor Gono, Ministers Goche and Gumbo. They were sold to their investment consortium which had several shelf companies including Kwangari Enterprises and Network Investments. The sale of the shares was done on or about 12 May 2004 through a pre-determined and fixed price transaction called a special bargain. As a result the current CFX Bank is a product of fraudulent merger of Century Bank (owned by my company ENG Capital) and a much smaller CFX Bank which somehow got naming rights on the resultant Bank. This “merger” was just to hide the corruption and fraud.
It is clear that the asset looting and expropriation in Zimbabwe is being done by senior Government Officials directly or indirectly through fronts. This is why some targeted sanctions have been applied on some of the politicians because they need to be stopped from their attempts to launder the proceeds from businesses they have looted and unjust enrichment schemes must be stopped. Those who are acting as their fronts, associates and conduits need to take note.
As I have said there is an illusion and fallacious assumption that I wont be able to take action in Zimbabwe but depositors and investors must be cautious , be realistic and don’t take chances. ‘
This remains accurate. Farai Rwodzi and Interfin Bank will be exposed for what they are – a mone,asset and transaction laundering masquerading as a Bank.
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