Muponda refutes Interfin Bank Chairman Farai Rwodzi's settlement claim

Muponda refutes Interfin Bank Chairman Farai Rwodzi's settlement claim

To the Editor
Newsday

On August 25 2010 in the Newsday publication the Chairman of Interfin Farai Rwodzi blatantly misrepresented the facts of the ongoing dispute regarding the misappropriation of 309 million Century/CFX Bank shares by Interfin. Farai Rwodzi recklessly and deceitfully caused to be published the following falsehoods, “Interfin is currently preoccupied with the thorny and cumbersome issue of post-merger consolidation and the process is fraught with challenges related to culture divergence and contingent liabilities related to labour disputes and equity claims being made against CFX.The article entitled "Interfin acquires 13% of Starafrica" written by
MUNYARADZI MUGOWO clearly seeks to mislead the investing public,regulatory authorities and international organizations such as MoneyGram International and other Banks.

The article stated "The company last month paid Gilbert Muponda $5,3 million for equity allegedly transferred to the acquirer irregularly during the merger, but is still to reach common ground with former CFX employees, who have sued over wage arrears and severance packages.”.This is false.

It is clear Mr Farai Rwodzi and Interfin Bank Zimbabwe are misleading the investing public that Interfin Bank has settled a liability.They are trying misleading their International business partners such as MoneyGram International and DSTV who are obviously concerned by the on going CFX Bank/Interfin ownership dispute and reputational risk attached to the on going dispute. Reputable organization such as MoneyGram International have to ensure that they deal with only reputable organizations who settle their disputes in amicable ways.

Such prevarication through a respected publication like yours is designed to give credence to a fictitious transaction that never occurred. Neither my legal representatives nor I have received compensation of any nature from Interfin, its directors or shareholders for the 309 million Century/CFX Bank shares embezzled from Century/CFX by Interfin.

Farai Rwodzi’s fraudulent misrepresentation and gross distortion of facts fails to include material information which would significantly alter the interpretation of this matter fact. He arrogantly repudiates overtures for an amicable out of court settlement and yet admits in this Newsday interview of possession of my 309 million Century Bank shares.

I would like to offer Mr Farai Rwodzi and Interfin Bank Zimbabwe an opportunity to attest to this claim of payment by submitting for publication to your esteemed paper, a signed copy of the settlement agreement between ourselves together with a copy of the payment cheque.

Thank you for your prompt attention to this matter.