Missing Diamond Proceeds - Farai Rwodzi ,CFX/Interfin Bank Zimbabwe & Muponda ownership dispute Part 3 of 5

Missing Diamond Proceeds - Farai Rwodzi ,CFX/Interfin Bank Zimbabwe & Muponda ownership dispute Part 3 of 5

Mr Farai Rwodzi and Interfin Bank Holdings seem to be running out of excuses or scapegoats to blame for the poor judgement and general greed. This must be a first for people who are supposed to be running a Bank.

First Mr Rwodzi claimed to have paid me US 5.3 million ( http://www.newsday.co.zw/article/2010-08-25-interfin-acquires-13-of-starafrica ).When I denied ever receiving this money Interfin then changed their story to say they will never pay me a cent http://www.newsday.co.zw/article/2010-09-26-interfin-rejects-mupondas-53m-claim .

And now they allege I have scared investors and alleged that the missing diamond sales proceeds found their way to Interfin Bank. I don’t take lightly to people who try to escape sticky situations by dragging my name into the mud.
I never scared off any investor. Any diligent and serious Investment Banker would have done what I did by alerting potential investors of pending litigation.

Its simple common sense and common professional courtesy .You don’t need a PHD in common sense to understand that.I have already filed High Court case HC-6244-04 to reverse the illegal seizure and fraudulent transfer of my 309 million shares Century/CFX Shares.

Investment Banking ethics demand that I alert any and all stakeholders of such action so that they exercise caution when dealing with CFX/Interfin Bank because of the contigent liability of 15.4 million for the 309 million shares at 5 cents which they owe me and my Company ENG Capital. If I fail to alert the investing public and other investors and stakeholders of the nature and quatum of my claim I would have exposed my self to future litigation for negligence and recklessness.

“According to Njanike, Muponda claims that earnings from diamond sales amounting to $30 million that allegedly disappeared from government coffers also “found their way to Interfin”.

“The truth is the money that we hold is a $2 million money market investment by the Zimbabwe Mining Development Company (ZMDC). Our strategy is to court cash-rich companies such as insurance companies and diamond companies. I wonder where Muponda is getting all that from.”.

It is sad to see a whole and complete Managing Director of a Bank make such false claims and allegations.At no point did I ever say Interfin was the custodian of the looted diamond sales proceeds.I strongly suspect Mr Njanike maybe about to confess about where this looted $ 30 million is.

Investors will be forgiven to assume Mr Njanike and Mr Rwodzi maybe be alluding to the fact that Interfin feel guilty and want to clarify widespread market rumours about alleged corruption at ZMDC,
The strong rumour circulating in the Zimbabwe and regional financial market is that Interfin Bank paid top bribes and kick backs to the ZMDC executives to attract those deposits whilst the ZMDC was closing down other mines due to lack of cash.

Is it now not obvious that these deposits cast a long shadow over Interfin’s dealings with ZMDC and other Institutions such as NSSA, there are general fear that where ever Interfin is involved there maybe corrupt inducements for Management to do business with Interfin. This appeared in a respected weekly and other daily newspaper.

These are just widespread rumours, but strong rumours which Interfin needs to deal with to allay market fears. Now when you have such allegations in your back yard International Institutions like MoneyGram International need to take note because in the US there is something Called Foreign Corruption Act, which could entangle MoneyGram executives if they hang around suspect institutions.

The ZMDC saga is juicy because the market says the fired/suspended ZMDC Managers were exposed since they were now building houses way beyond their means. In addition to generally behave as if they had discovered diamonds in their own back yard. This pattern was traced to deposits at Interfin according to a reliable source at one of Zimbabwe’s top Stock brokers who refused to be named for obvious reasons.

Interfin Bank MD Mr Njanike continues with his mis-directed and misguided attack on my person “Njanike said Muponda last year scared off three foreign investors who wanted to buy into CFX, including Finance Bank Zambia (FBZ), which planned to acquire 40%.”.Again Mr Njanike makes a false allegation that I “scared” investors.

I protected investors from reputational risk. Had they gone on to buy a stolen bank its similar to being caught driving a stolen car. Even if you claim to have bought the car from someone else the case will be costly to clear your name. This is why I advised FBZ to do a proper due diligence.

When they did their proper enhanced due diligence they confirmed the validity of my claim and stopped the proposed investment.I also asked Moneygram International to do a proper enhanced Due Diligence.Interfin Bank, Mr Njanike and Mr Rwodzi need to be a bit more serious and quit behaving like teen agers.

Through my lawyers I have given them documentary proof of the basis and legitimacy of my $ 15.4 million claim through High court case HC-6244-04 blocking and reversing the sale or transfer of the 309 million shares. We have asked these 2 gentle men to sit down ,reflect and make us and offer to settle this matter. So I am not sure why they are choosing to grand stand when the door is open to make a serious offer and we can resolve this without any further drama.

Newsday clarification on Farai Rwodzi ,Interfin Bank and Muponda over the CFX Bank Dispute

Dear MUNYARADZI MUGOWO - Business Editor - Newsday

My lawyers Gutu and Chikowero Attorneys at Law still havent confirmed seeing your retraction correcting the falsehood that Farai Rwodzi and Interfin Bank paid me $ 5.3 million.I was never evasive all I said was you need to publish as retraction and we proceed with the interview.Naturally it doesnt make mush sense for me to grant you an interview when you have published a falsehood that you refuse or fail to correct and retract.Surely you cant specialize on publishing fiction and false claims even when confronted with facts.

In addition I never claimed $ 5.3 million from Interfin .Rather it was Farai Rwodzi through Newsday who claimed they paid me $ 5.3 million.( http://www.newsday.co.zw/article/2010-08-25-interfin-acquires-13-of-starafrica ) Thats why we asked for a retraction because I never claimed 5.3 million and I was never paid 5.3 million.I am claiming 15.4 million being the 309 million shares times the value per share then which was us 5 cents.This gives the total of my claim which is $15.4 million.

Farai Rwodzi and Interfin Bank seem to be living in dream land a world of make belief. Its most unfortunate they are behaving like high school boys with bravado instead of seeking a solution. According to this article Interfin claim that I am claiming US $ 5.3 million http://www.newsday.co.zw/article/2010-09-26-interfin-rejects-mupondas-53m-claim . They further allege my media campaign constitute malicious cyber attacks .My campaign is perfectly legal and legitimate and will go on till Interfin and Farai Rwodzi pay what they owe me and my Company ENG Capital.

For the record I am not claiming $ 5.3 million. I am claiming $ 15,4 million being 309 million shares multiplied by the value per share of 5 cents to give a total of US $15.4 million. Farai Rwodzi is the one who falsely claimed to have paid me $ 5.3 million and I denied ever receiving the same.

My lawyers Gutu and Chikowero wrote to both Interfin and Newsday Newspaper to deny and ask for a retraction but Interfin choose to reply through press reports. Interfin further claim I authorized the sale of the shares. They conveniently forget that I in fact challenged the transfer of the shares through high court case HC 6244-04 .My co-director Nyasha Watyoka supported this motion to block the sale or transfer of the shares.

I understand Interfin have been trying to create the impression that we do not have a legitimate claim or we are using media whilst avoiding court.

That is not correct this matter is still before the High Court in Harare case # HC-6244-04 filed in late May 2004 by my then lawyer Mr Oscar Ziweni. Note respondent # 6 Century Holdings is now Interfin Holdings Limited who assumed assets and liabilities of Century Holdings when they took over CFX Bank which itself had taken over the original Century Bank .

My former lawyer Mr Ziweni died mysteriously and suspiciously after being stalked, intimidated, harassed, detained by various members of the state security sections for representing me in this case. At one stage he was forced into hiding when threatened with fabricated charges just meant to scare him off from representing me. This left me with no legal representation at that stage and I was also then specified leaving me in danger as my lawyer had died mysteriously and I feared for my life as well so I fled Zimbabwe.

However the court case still remains because it was duly filed and assigned through normal high court procedure. I have attached My original founding affidavit filed with Case HC-6244-04 opposing the transfer of 309 million shares which triggered this dispute with Mr Rwodzi and Interfin Financial Holdings.I will publish some of the original documents which show that the 309 million shares were illegally, corruptly and irregularly transferred. This is part 1 of 5If you can not access the attached copy please visit my Facebook profile and follow this link http://www.facebook.com/album.php?aid=2059705&id=1393181020&l=477a267b1f

Muponda Bids to Halt Interfin’s CFX Interest

Thursday, 05 November 2009 18:01
FORMER ENG director and exiled businessman Gilbert Muponda this week launched a fresh bid to dash Interfin Holdings Limited’s plans to acquire CFX Financial Services, citing his proprietary interest in the shareholding of CFX FS. Lawyers representing the specified businessman on Monday wrote to Interfin advising about Muponda’s interests in the CFX FS shareholding, which could again throw spanners in CFX’s other rescue plan.

“We are of the humble view that your company should formally be made aware of our client’s proprietary interest in the shareholding of CFX Financial Services Ltd.
“For your convenience, therefore, we forward herewith copies of the following documents,” wrote Obert Gutu of Gutu and Chikowero Attorneys. The letter was also copied to CFX Financial Services’ managing director Emmanuel Tagarira as well as the Minister of Finance Tendai Biti.

The latest developments have arisen just after the specified businessman blocked acquisition of the local financial institution by the Finance Bank of Zambia. Interfin Holdings is poised to acquire a 51% controlling stake in CFX FS and has been enlisted as underwriter and technical equity partner for CFX’s proposed US$10 million rights offer.

Muponda is contesting CFX Financial Services’ takeover of Century Bank, which the businessman claims belonged to his now defunct ENG Capital Limited. Muponda is demanding an audit on how the troubled financial institution acquired Century Bank when CFX FS merged with Century Holdings in 2004. The exiled businessman claims 309 million shares belonging to Century Bank were fraudulently sold at the time of the merger. — Staff Writer.

http://www.theindependent.co.zw/business/24113-muponda-bids-to-halt-interfins-cfx-interest.html

MoneyGram ,Farai Rwodzi & Interfin Bank perfect partners in crime – Part 1 of 30

MoneyGram ,Farai Rwodzi & Interfin Bank perfect partners in crime – Part 1 of 30
Farai Rwodzi and Interfin Bank Zimbabwe have been refusing or failing to pay me US$ 15.4 million for my 309 million Century/CFX Bank shares which were corruptly ,illegally and irregularly converted into Interfin Banking Corporation shares. Since MoneyGram International have been using my bank infrastructure illegally seized from me and incorporated into CFX/Interfin Bank Zimbabwe I have asked MoneyGram to suspend dealing with CFX/Interfin until the ownership dispute is resolved. MoneyGram have been aiding and abetting the illegal seizure of my bank by continuing to do business with CFX/ Interfin Bank giving credibility and normalcy to an illegal and corrupt act.
MoneyGram have refused to stop dealing with CFX/Interfin Bank which has forced me to do a little back ground check on MoneyGram and how they do business, I have broken down the findings into a 30 part series, this is part 1.I have also created a website to document this www.moneygramexposed.com and www.interfinbank.org .PLEASE VISIT AND SPREAD THE WORD.
MoneyGram International late last year announced that it would pay $18 million to the FTC to settle charges it allowed, facilitated and enabled wire fraud to happen between 2004 and 2008. MoneyGram's press release notes that they disagree with the FTC's view of the matter, but $18 million is a hell of a lot of money to pay if you don't think you were in the wrong. The press release from the FTC, on the other hand, provides plenty of detail illustrating MoneyGram's negligence, as well as the criminal behavior of some of its employees who were in on the frauds.

First, here's how MoneyGram delicately addresses it:

“
"While we don't agree with the FTC`s allegations regarding our fraud prevention in the past, we can agree on fraud prevention today and in the future," said Patsley. "We don`t want our customers being victimized by third-party fraud. What we are announcing today with the FTC is our commitment to enhance our already comprehensive efforts to combat fraud and ensure our customers can continue to rely on MoneyGram for safe, reliable money transfer services."

”
But check out these specific allegations from the FTC's press release, which also came out on the same day (emphasis ours):

“
The FTC charged that between 2004 and 2008, MoneyGram agents helped fraudulent telemarketers and other con artists who tricked U.S. consumers into wiring more than $84 million within the United States and to Canada � after these consumers were falsely told they had won a lottery, were hired for a secret shopper program, or were guaranteed loans. The $84 million in losses is based on consumer complaints to MoneyGram � actual consumer losses likely are much higher.

The FTC charged that MoneyGram knew that its system was being used to defraud people but did very little about it, and that in some cases its agents in Canada actually participated in these schemes. According to the FTC's complaint, MoneyGram knew, or avoided knowing, that about 131 of its more than 1,200 agents accounted for more than 95 percent of the fraud complaints it received in 2008 regarding money transfers to Canada; a similarly small number of agents was responsible for more than 96 percent of all fraud complaints to the company in 2006.

According to a recent FTC survey cited in the complaint, at least 79 percent of all MoneyGram transfers of $1,000 or more from the United States to Canada over a four-month period in 2007 were fraud-induced. The Commission's complaint further stated that based on the more than 20,600 fraud complaints MoneyGram itself received, U.S. consumers lost more than $44 million to cross-border money-transfer frauds between 2004 and 2008 alone. When combined with losses reported by U.S. consumers on money transfers within the United States, that number grows to $84 million.

The FTC's complaint alleges that MoneyGram ignored warnings from law enforcement officials and even its own employees that widespread fraud was being conducted over its network, claiming that proposals to deal with the problem were too costly and were not the company's responsibility. The company even discouraged its employees from enforcing its own fraud prevention policies or taking action against suspicious or corrupt agents. Some employees who raised concerns were disciplined or fired, the FTC charged.

MoneyGram was represented by William MacLeod, Lewis Rose and Jennifer Ngai of Kelley Drye & Warren in Washington. In the settlement, MoneyGram said it was entering the order “solely for the purpose of settlement and nothing contained herein may be taken or construed to be an admission or concession of any violation of law.”

(Vladeck -(FTC Official) at the press conference countered, “If MoneyGram felt any of the allegations were incorrect, they shouldn’t have settled the case.”).

I have given Farai Rwodzi and Interfin Bank 2 clear options
1 - Pay cash US $ 15.4 million ( 309 million shares multiplied by 5 cents per share)
2 - Or issue 309 million shares in Interfin Financial Holdings to me and my Company ENG Capital.

In typical Moneygram modus operandi Farai Rwodzi and Intefin Bank Zimbabwe have tried to pretend they do things above board despite overwhelming evidence to show otherwise .It is clear that Farai Rwodzi and Interfin Banking Corporation have found a perfect partner to do illegal deals and cover up the illegal seizure of my Bank for mutual profit. They both put up a false impression of being upright business entities when its clear they will break and all laws as long as they are not caught and held to account for their actions.

This article appears courtesy of GMRI CAPITAL – www.gmricapital.com . It is original content generated for 3MG MEDIA – www.3mgmedia.ca .

Gilbert Muponda is an Investment Banker and Founder of GMRI CAPITAL . He can be reached at; www.ZimFace.com and

www.facebook.com/muponda:
Email - gilbert@gilbertmuponda.com .
Skype ID: gilbert.MupondaTwitter ;
http://twitter.com/gmricapital:
1-416-841-5542

John Moxon,Meikles Africa,Farai Rwodzi ,Mujuru & Interfin Bank cartel must be dismantled part 1 0f 10.

This is part one of a 10 part series to document why and how the John Moxon,Meikles Africa,Farai Rwodzi ,Mujuru & Interfin Bank cartel (The Cartel) must be dismantled.It must be noted when Kingdom Meikles Africa Limited and John Moxon were specified I wrote various articles criticizing the Governments move in the specification and opposed any attempt to seize Meikles Africa Limited under any excuse.My views remain I still believe Meikles Africa Limited must operate as an independent business free from any politics or political interferences.However it is clear that Mr Moxon and Meikles Africa may have mis-calculated in their appointment of Generel Mujuru's errand-boy-cum-business partner and front Farai Rwodzi as the Meikles Africa Chairman.This relationship will expose both Moxon and Meikles Africa to severe reputational risk which maybe almost impossible to mitigate.

This cartel is greedy and will stop at nothing to grab businesses and assets.It is now well documented how they tried to grab Kingdom Bank from its Founder.The intention was to merger Kingdom with CFX./Interfin Banking Corporation.

The problem with this level of unchecked greed is that its a threat to national security as few individuals seek to control all meaningful assets,businesses and resources in the country.This causes national instability and agitation as the allocation of resources becomes skewed and unsustainable.

Farai Rwodzi and Interfin Banking Corrporation have been behaving like a corporate hooligans totally devoid of any reasoning such that its hard to grasp why the Meikles Board and the Interfin Board keep Farai Rwodzi as Chairman besides political muscle borrowed from Mujuru.

Farai Rwodzi and Interfin Bank illegally and irregularly grabbed my 309 million shares worth 5 cents each in Century Bank which were fraudulently converted into CFX Bank then finally into CFX/ Interfin Banking Corporation.

I have given Farai Rwodzi and Interfin Bank 2 clear options

1 - Pay cash US $ 15.4 million ( 309 million shares multiplied by 5 cents per share)

2 - Or issue 309 million shares in Interfin Financial Holdings to me and my Company ENG Capital.

However because of the John Moxon and Meikles Africa backing and resources plus the General Mujuru political muscle Farai Rwodzi has tried to ignore the claim only making one flase claim that he has paid me US $ 5.3 million.

This irresponsible behaviour and actions by Farai Rwodzi and Intefin Bank are clear grounds to terminate a business relationship , which is what Mr Moxon should have done long ago.But because he is now to deeply involved with this cartel he finds it difficult if not impossible to leave this asset plundering and grabbing cartel.However if he insists on leaving Farai Rwodzi as Chairman of Meikles Africa and let him him throw his weight around on the basis of the Meikles Africa balance sheet and resources the Meikles Africa shareholder,investors,Management and other stakeholders should be asking themselves if thats what they would want their name assoiciated with since the reputational risk only continue to grow as the cartels's activities are exposed and documented.

This article appears courtesy of GMRI CAPITAL – www.gmricapital.com . It is original content generated for 3MG MEDIA – www.3mgmedia.ca .

Gilbert Muponda is an Investment Banker and Founder of GMRI CAPITAL . He can be reached at; www.ZimFace.com and www.facebook.com/muponda

Email: gilbert@gilbertmuponda.com . Skype ID: gilbert.Muponda
Twitter ; http://twitter.com/gmricapital
Phone: 1-416-841-5542

Rwodzi ,Mujuru and Interfin Bank money laundering web Part 7 of 10

Rwodzi ,Mujuru and Interfin Bank money laundering web Part 7 of 10
This is the seventh of a 10 part series meant to document the excessive asset grabbing and looting being done by the Farai Rwodzi-Mujuru-Interfin Bank Zimbabwe syndicate. Farai Rwodzi through Interfin Bank grabbed CFX Bank under very controversial circumstances and have tried to hide their tracks by rebranding it as Interfin Banking Corporation.This is the very same tactic that was being attempted on Kingdom Bank where Rwodzi in partnership with John Moxon backed by Mujuru have been trying to take-over the bank and kick out its Founder Nigel Chanakira.Farai Rwodzi needs to pay me what he owes before acting as Meikles Africa strong man and enforcer as this only makes this more intense.

Their plan and main aim is to keep mixing many looted assets such that the victims lose track of their original grabbed assets. They are trying to make the reversal of their lootinn and grabbing almost impossible to track and reverse. Their ultimate aim was to combine CFX Bank with Interfin Bank and Kingdom Bank. Its sad that a respectable man like Mr John Moxon has chosen to partner with such a cartel.

Farai Rwodzi and Interfin Bank owe me and my company ENG Capital US $ 15.4 million. They illegally and irregularly took over my 309 million shares in Century/CFX Bank which I held through my Company ENG Capital. The 309 million shares were valued at 5 cents per share which makes total prejudice to US $ 15.4 million.

It is strange and disappointing that Farai Rwodzi,Meikles Africa Limited and John Moxon have been holding Nigel Chanakira and Kingdom hostage asking him to pay for their stake in cash when Farai Rwodzi and Interfin Bank owe me $ 15.4 million which they have failed or refused to pay for my 309 million Century shares which were illegally and irregularly converted into CFX Bank shares then finally into Interfin Bank Holdings shares.

Farai Rwodzi and Interfin have been ignoring the fact that rebranding alone is not sufficient to extinguish debt.Any successor Bank to CFX/Interfin Bank will have to settle this claim.Their recent false claim in the Newsday newspaper that I had been paid $ 5.3 million for shares worth US$ 15.4 million only shows the lack of seriousness on the individuals involved.

Whilst Farai Rwodzi and Meikles are busy chasing Nigel it would be better if they first tried paying their own debts before putting a holier than thou attitude. Charity begins at home which is a lesson that seems to have been missed by the Farai Rwodzi-Mujuru-Meikles-Interfin Bank Zimbabwe syndicate and cartel .Farai Rwodzi , Meikles Africa Limited and Interfin Bank cannot and should not hold other institutions and individuals at ransom just to get payment on your terms whilst refusing to pay those you owe.

Farai Rwodzi and Interfin Bank needs to me and ENG Capital US $ 15.4 million for the looted 309 million shares in Century/CFX Bank before acting as enforcers on behalf of John Moxon and Meikles Africa Limited.

Farai Rwodzi has acted as financial Advisor and facilitator and custodian of the looting syndicate and cartel at Interfin Bank which he co-owns with the Mujurus and other related politicians.Most of the proceeds of the looting spree end up at Interfin Bank Zimbabwe chaired by Farai Rwodzi resulting in Interfin Banking Corporation always claiming to be “the cash rich Group” .Its clear where the cash is coming from.

This article appears courtesy of GMRI CAPITAL – www.gmricapital.com . It is original content generated for 3MG MEDIA – www.3mgmedia.ca .
Gilbert Muponda is an Investment Banker and Founder of GMRI CAPITAL . He can be reached at; www.ZimFace.com and www.facebook.com/muponda
Email: gilbert@gilbertmuponda.com . Skype ID: gilbert.Muponda
Twitter ; http://twitter.com/gmricapital
Phone: 1-416-841-5542

Request to MoneyGram International on Farai Rwodzi and CFX/Interfin Banking Corporation as an Agent in Zimbabwe.

Madam Pamela H. Patsley


Chairman and Chief Executive Officer

MoneyGram Headquarters1550 Utica Avenue SouthSt. Louis Park, MN 55416

1-800-328-5678952-591-3000



10 September , 2010.

Dear Madam,
RE – Request for MoneyGram International to suspend using Century /CFX/Interfin Banking Corporation as an Agent in Zimbabwe.

I am officially asking MoneyGram International to suspend any business dealings with Century/CFX.Interfin Bank until such a time that the ownership dispute has been resolved.

It is my submission that Mr Rwodzi and Interfin Bank have been engaged in unfair business and trade practises that include business conspiracy ,fraud,deception in the manner in which my Bank Century/CFX Bank's assets including its MoneyGram International Franchise were taken over and illegally and corruptly incorporated into Interfin Bank .This is a well documented case of 309 million shares I owned in Century Bank were fraudulently ,corruptly ,illegally and irregularly converted into CFX Bank then into Interfin Banking Corporation which is chaired by Mr Farai Rwodzi who co-owns the Bank with retired General Mujuru and his family and other senior politicians.

I have brought this matter to MoneyGram’s attention on several occasions. Recently SW Radio Africa’s Award winning Investigative Journalist Lance Guma spoke to Linda Michielutti MoneyGram International company spokesperson which shows MoneyGram is officially aware of the situation.-http://www.swradioafrica.com/news080910/moneytransfer080910.htm

MoneyGram’s continued use of Century/CFX/Interfin Bank as an Agent is clearly prejudicing me financially and causing me severe emotional distress. MoneyGram International is continuing to use my bank infrastructure, systems and assets illegally seized from me despite my protestations.

I therefore humbly implore the MoneyGram International Board of Directors and audit committees as part of their fiduciary duties to conduct confidential internal investigations in the range of the matters I have raised, including financial and accounting irregularities affecting the Interfin/CFX/Century Bank and the owner ship structure of Interfin Bank . MoneyGram International may have inadvertently exposed itself to reputational, legal, and commercial risks by having inadequate policies and procedures that prevent and detect corrupt and fraudulent practises elsewhere by its Chairman.

My intentions are to recapture my shares in Century / CFX Bank or to amicably compel Mr Rwodzi and Interfin Bank Holdings to pay me for my 309 million shares in Century/CFX Bank, which were corruptly, illegally and irregularly converted to Interfin Bank. Failure to which I shall have no choice but bring to bear on Mr Rwodzi ,Interfin Bank Zimbabwe and all other associated business entities all forensic accountants, attorneys, investigative journalists, regulators, domestic and international law enforcers.

Please note I am reliably advised that MoneyGram International maybe violating American, Canadian and other International laws in their continued dealing with Century/CFX/Interfin-Bank

We await your urgent response to this serious matter. Should I not hear from you within the next 48 hours I will be proceeding without further reference to MoneyGram International

Regards,

Gilbert Muponda

Complaint against Meikles Chairman Farai Rwodzi on CFX/Interfin Bank Zimbabwe

Complaint against Meikles Chairman Farai Rwodzi on CFX/Interfin Bank Zimbabwe


The Board of Directors

Meikles Africa Limited

Business Address and Registered Office

P.O. Box 3598, Harare, Zimbabwe
99 Jason Moyo Avenue, Harare, Zimbabwe

Telephone +263-4-252068-78

Telefax +263-4-252067

Dear Gentlemen

RE - Letter of Complaint against Meikles Africa Chairman Mr Farai Rwodzi on CFX/Interfin Banking Corporation Zimbabwe

I write this letter to respectfully bring to your attention, and to seek your timely arbitration in a serious matter involving the Meikles Board Chairman, Mr Farai Rwodzi, Interfin, CFX/Century Bank, and myself.

It is my submission that Mr Rwodzi has been engaged in unfair business and trade practises that include business conspiracy and tortious interference with the CFX/Interfin merger.This is a well documented my 309 million shares I owned in Century Bank were fraudulently,illegally and irregularly converted into CFX Bank then into Interfin Banking Corporation which is chaired by Meikles Africa Chairman Mr Farai Rwodzi.

I therefore humbly implore the Meikles Board of Directors and audit committees as part of their fiduciary duties to conduct confidential internal investigations in the range of the matters I have raised, including financial and accounting irregularities affecting the Interfin/CFX/Century transaction and business conduct of Mr Rwodzi.

It is my further submission that Mr Rwodzi erroneously, or deliberately omitted to notify the Meikles board of improper actions regarding Interfin’s acquisition of CFX banking assets that belong to me and my company ENG Capital.On 25 Mr Rwodzi willingly and misleadingly caused the Newsday Newspaper to falsely write that Interfin Bank had paid me US $5.3 million for my equity in CFX Bank. The website link is here http://www.newsday.co.zw/article/2010-08-25-interfin-acquires-13-of-starafrica "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 was misleading to regulators,shareholders,investing public creating an inaccurate impression I had received money which I was refusing to acknowledge.It is unbecoming for Chairman of a leading Firm such as Meikles Africa Limited to seek to mislead the regulators and investors by making such fabricated public statements .
Interfin Holdings in fact owes me more than the US$ 5.3 million which Mr Rwodzi claims to have paid .The exact amount which is outstanding is US $ 15,450,000.00 ( Fifteen million Four hundred and fifty thousand dollars) .This is made up of 309 million shares multiplied by the value of each share which was $ 0.05 ( 5 us cents per share).This amount of US $ 15.45 million remains outstanding and due to me and ENG Capital.

This is a well documented case of 309 million shares I owned in Century Bank were fraudulently ,corruptly ,illegally and irregularly converted into CFX Bank then into Interfin Banking Corporation. An attempt was made to sell and transfer the same 309 million shares on or about 4 May 2004.


Meikles may have inadvertently exposed itself to reputational, legal, and commercial risks by having inadequate policies and procedures that prevent and detect corrupt and fraudulent practises elsewhere by its Chairman.

I do not have any ill feeling towards Mr Rwodzi or Interfin Bank Zimbabwe.All I have asked them is to seek an amicable conclusion to the matter.I have personally called Mr Rwodzi and my lawyers have officially written to Interfin seeking an amicable solution but all these efforts have been spurned forcing us to publicise what should otherwise be a private and confidential matter.

My intentions are to recapture my shares in Century / CFX Bank or to amicably compel Mr Rwodzi to pay me for my 309 million shares in Century/CFX Bank, which he has converted to Interfin Bank. Failure to which I shall have no choice but bring to bear on Mr Rwodzi ,Interfin Bank Zimbabwe and all other associated business entities all forensic accountants, attorneys, investigative journalists, regulators, domestic and international law enforcers.

We await your urgent response to this matter.

Regards,

Gilbert Muponda

MoneyGram Internationl sucked into CFX Bank dispute

By Lance Guma
Gilbert Muponda is an exiled Zimbabwean businessman who is taking on the might of international money transfer giant MoneyGram, after he challenged them to review their relationship with a financial institution that he says ‘stole’ his bank.

Muponda was forced to flee the country at the height of a controversial crackdown on the financial sector in 2004. Century Bank, which he owned via his ENG Capital investment company, was illegally seized by the government he says. Six years on the struggling bank was rebranded to CFX Bank and later bought by Interfin Bank. Its CEO, Farai Rwodzi, is reported to be a proxy for retired army general Solomon Mujuru.

‘Interfin is now liable to my claim due to their attempt to cover up the ownership dispute by rebranding and changing CFX Bank operations. This is clear money and transaction laundering being executed,’ Muponda told SW Radio Africa. MoneyGram International has been sucked into the dispute because they have a business relationship with Interfin.

‘I feel MoneyGram as a leading international brand should not be doing business with Interfin because they are holding onto an asset that was looted from me. So what we have asked MoneyGram to do is carry out a proper diligence check and ensure that they are doing business with reputable people,’ he told us.

In November 2009 Muponda successfully used an internet campaign to block a major financial institution from buying the disputed bank. One of the world’s biggest banks, Credit Suisse through the Finance Bank of Zambia, had sought to buy CFX Bank. Muponda however used an aggressive internet campaign dubbed ‘Return Muponda’s Bank’ and Credit Suisse eventually pulled out of the deal.

On the 25th August this year the Newsday newspaper covered a story that quoted Interfin chairman Farai Rwodzi claiming they had paid Muponda US$5,3 million in compensation for his shares in CFX Bank. A furious Muponda denied this and said; ‘Rwodzi and Interfin Bank Zimbabwe are trying to mislead their international business partners such as MoneyGram International and DSTV who are obviously concerned by the on-going CFX Bank/Interfin ownership dispute.’

On Wednesday SW Radio Africa spoke to Linda Michielutti, the company spokesperson for MoneyGram International. She told us ‘MoneyGram International has an extremely strong commitment to and investment in anti money-laundering compliance. We are fully compliant with all local and international requirements for Money Services Businesses. We are currently investigating Mr. Muponda’s claims.’

A determined Muponda meanwhile has designed more website banners, this time targeting MoneyGram and he has sent them to the company head office for them to see. ‘We will look at this and revert to you,’ was all MoneyGram lawyer Bessima Bahri wrote in response.

Rwodzi ,Mujuru and Interfin Bank money laundering web Part 6 of 10

Rwodzi ,Mujuru and Interfin Bank money laundering web Part 6 of 10
This is part 6 of a 10 part series aimed at accurately documenting the excessive asset grabbing and looting being done by the Farai Rwodzi-Mujuru-Interfin Bank Zimbabwe syndicate. After controversially grabbing CFX Bank and incorporating it into Interfin Banking Corporation the same syndicate has now teamed up with John Moxon in attempting to take over Kingdom Bank from its founder.

Whilst the Kingdom Meikles saga has its own different facts its just shocking that the same individuals the Mujurus and their errand-boy-cum business partner Farai Rwodzi are at the forefront of trying to push the founder out.The question is how many businesses does the Mujuru –Farai Rwodzi-Interfin Bank Zimbabwe syndicate want to own and control for them to be satisfied.When will they see it fit to give others a chance?


It is important to clearly highlight deals like these as they are the ones that Interfin Bank Zimbabwe and Meikles Africa Chairman Farai Rwodzi has been benefiting from and assisting to launder the proceeds. This should also accurately inform Interfin business partners such as MoneyGram International. Multi Choice Africa who they are dealing with. In addition entities such as Kingdom Meikles Africa chaired by Farai Rwodzi role in the on going asset looting and money laundering must be documented.


Fara Rwodzi has been incorporated into the ZANU fundraising initiatives which he has done well and earned political muscle to allow him to grab and loot assets at an alarming pace.One such initiative is the Simon Vengai Muzenda Scholarship Foundation . The Minister of Economic Development, Rugare Gumbo, who also attended the launch of the foundation, donated $100 000.Rugare Gumbo is uncle to Farai Rwodzi’s other business partner Edwin Gumbo of EFE Securities.


It appears they will stop at nothing to grab businesses and loot assets even though it is clear that at this rate of asset grabs it will be very difficult if not impossible to hide their tracks and hold on to their ill-gotten wealth.

The Mujuru-Farai Rwodzi Interfin Bank syndicate have amassed breathtaking quantities of ill-gotten wealth they risk losing in a post-Mugabe era.As a result they have been on a money laundering spree which has seen them try to grab clean and reputable businesses such as CFX Bank and Kingdom Bank which have reputable International partners such as MoneyGram International.

Their idea is to launder their proceeds of crime and other ill-gotten wealth by linking up and associating with repectable brands .This will gain them credibility and acceptability in an effort to hide detection of their deceipt, fraud and corruption which is how they accumulated the wealth in the first place.

"The way the Farai Rwodzi-Mujuru-Interfin Bank Zimbabwe syndicate has grabbed and looted wealth and assets leaves the international firms such as MoneyGram International, Multi-Choice Africa and other international banks legally, constitutionally and morally bound to reject doing business with Farai Rwodzi-Mujuru-Moxon and Interfin Bank Zimbabwe syndicate,

Alert individuals and entities must do whatever it takes to prevent the Farai Rwodzi-Mujuru Interfin Bank Syndicate from going ahead -- from lobbying and litigation to protest and even boycott some of their operations, if need be.

The extent of such greed and corruption is a clear sign why the Zimbabwe Economy will find it hard if not impossible to prosper if a handful of individuals representing 2 people try to own and control every meaningful business in the country. Through their various schemes and “any means necessary” tactics to take over businesses they forget that there is a limit to the efficiency that one group of Companies can achieve. Such greed will in the end resemble communism in-efficiencies and market failures.

How much sense does it make for one individual like Farai Rwodzi to try and control Century/CFX Bank, Kingdom Bank and Interfin Bank into one? Is this not a case of seeking pre-eminence by killing competent competition and seek to create a monopoly?
Farai Rwodzi has acted as financial nerve centre and facilitator and custodian of the looted funds at Interfin Bank which he co-owns with the Mujurus and other related politicians. Most of the proceeds of the looting spree end up at Interfin Bank Zimbabwe chaired by Farai Rwodzi resulting in Interfin Banking Corporation always claiming to be “the cash rich Group” .Its clear where the cash is coming from.

This article appears courtesy of GMRI CAPITAL – www.gmricapital.com . It is original content generated for 3MG MEDIA – www.3mgmedia.ca .

Gilbert Muponda is an Investment Banker and Founder of GMRI CAPITAL . He can be reached at; www.ZimFace.com and www.facebook.com/muponda

Email: gilbert@gilbertmuponda.com . Skype ID: gilbert.Muponda

Twitter ; http://twitter.com/gmricapital

Phone: 1-416-841-5542

Farai Rwodzi-Mujuru-Moxon Interfin Bank syndicate repositions TM Super Market

Farai Rwodzi-Mujuru-Moxon Interfin Bank syndicate repositions TM Super Market

Meikles Africa owned TM Supermarkets came within a whisker of losing its top spot as the biggest supermarket chain by outlets to rival OK Zimbabwe after closing three branches during the half-year period to June 2010.
The closure of the outlets was "a bid to reposition the brand," said Farai Rwodzi, chairman of Meikles which is now controlled by the Farai Rwodzi Mujuru Interfin Bank Zimbabwe money laundering syndicate, the major shareholder in the supermarket chain.
Farai Rwodzi was appointed Chairman of Meikles by John Moxon to represent Retired General Mujuru’s interest after Mujuru assumed political protector for both Moxon and Meikles Africa in the ugly fight between Nigel Chanakira and John Meikles.Chanakira has managed to convince President Mugabe to fight in his corner according to recent report carried by the Zimbabwe Independent newspaper.

The loss had brought TM Supermarket outlets across Zimbabwe down to 49, the same number as OK Zimbabwe, which has announced its ambition to become "the dominant retailer in Zimbabwe".

However, TM Supermarkets had added one more in the resort town of Victoria Falls to stay ahead of its oldest rival with 50 outlets.

"Other sites are being explored to expand the branch network," said Farai Rwodzi the reported chief architect of the Rwodzi-Mujuru Interfin Bank Money laundering syndicate.

TM Spupermarkets hangs on

This indicates that TM Supermarkets, which posted a loss before tax of US$841,000 during the half year to 30 June 2010, up from a loss of US$86,000 during the comparable period the previous year, will not easily let go of its dominant place in the market.

South Africa's Pick n Pay holds a 25% stake in TM Supermarkets and has expressed interest in shoring up its shareholding in the Zimbabwean grocery giant.

Interfin Bank Zimbabwe Chairman Rwodzi said discussions for the recapitalisation of the supermarkets were "still in progress and the board expects these to be concluded by the end of the third quarter of this year".

Stuck to its brand

The advantage with TM Supermarkets is that it has stuck to its brand even during the crisis period, whereas OK Zimbabwe had designed other less appealing brand names for the lower end of the market: OK Express Stores and Pax Cash & Carry.

Of the 49 outlets under its portfolio, OK has 35 OK stores, five Bon Marche stores, three OK Express stores and six Pax Cash & Carry stores.

OK Zimbabwe is already scouring the market for additional outlets after a US$20 million equity loans and rights issue that brought in South Africa-based Investec Africa Frontier Private Equity Fund as a new shareholder.

Farai Rwodzi-Mujuru-Moxon Interfin Bank syndicate ready to kick out Chanakira

Harare — MEIKLES Limited board which is now being controlled by the Farai Rwodzi-Mujuru –Interfin Bank money laundering syndicate has recommended for the demerger of Kingdom Financial Holdings Limited from the group ahead of a crucial extraordinary general meeting scheduled for next month.

An informed source confirmed that the Farai Rwodzi-Mujuru-Interfin Bank Zimbabwe syndicate sneaked into the Kingdom Meikles Africa demerger saga by offering John Moxon political protection in exchange for partial control of Meikles Africa

The Rwodzi-Mujuru-Interfin Bank Zimbabwe controlled board requisitioned for an EGM on October 4, to ask for shareholder consent to implement the demerger processing which they are preparing to kick out Kingdom Meikles founder Nigel Chanakira and merge Kingdom Bank with Interfin Bank which also include the controversially acquired CFX Bank which was seized from Gilbert Muponda of ENG Capital.

According to a report in the Herald Business in the event that an offer acceptable to the board is received prior to the date of the EGM shareholders would be notified and asked to vote. The Rwodzi-Mujuru-Interfin Bank Zimbabwe however does not expect Chanakira to come up with the money ,this has forced Chanakira to rope in President Mugabe to come in a declare that Kingdom will not be allowed to be taken over by Meikles as this is against the”country’s indeginization rules and regulations”

Interfin Bank Chairman who is also Kingdom Meikles Africa Chairman, Mr Farai Rwodzi is also understood to be in South Africa meeting anchor shareholder Mr John Moxon on demerger issues.The powerful General Solomon Mujuru and his wife Vice President Joice Mujuru are believed to the the political force now protecting John Moxon’s interest.Moxon returned the favour by appointing Mujuru’s sidekick and business front Farai Rwodzi as Chairman of Meikles Africa Limited.

Failure by Mr Nigel Chanakira to come up with a firm proposal will see Mr Moxon and the Farai Rwodzi –Mujuru and Interfin Bank Zimbabwe syndicate maintaining a controlling shareholding in Kingdom.

Apparently, Mr Chanakira has on four occasions failed to meet demands made by Farai Rwodzi,the Mujurus and Mr Moxon to pay for the entire Meikles stake in KFHL.
There are also reports that Mr Chanakira is courting BancABC to advance him US$15 million to pay for his stake.

At an EGM held on June 22, Meikles shareholders authorised directors to demerge Kingdom from Meikles.

However, the demerger process is yet to be implemented due to non-fulfillment of demerger conditions precedent.

The demerger is part of the solutions to end the contentious dispute between Mr Moxon and Mr Chanakira.

Meikles Limited formerly (Kingdom Meikles Limited) -- a merger of Kingdom and Meikles, Tanganda, and Cotton Printers in 2007 touted the biggest deal on ZSE only lasted for about eight months.

Irreconcilable difference between Mr Chanakira and Mr Moxon lead to the proposed demerger -- ending eight months of acrimonious fighting this has resulted in John Moxon joining the Farai Rwodzi Mujuru- Interfin Bank Zimbabwe syndicate whilst Chanakira has sided with Mugabe in one of the biggest corporate fights in post independence Zimbabwe.

Rwodzi ,Mujuru and Interfin Bank money laundering web Part 5 of 10

This is part 5 of a 10 part series aimed at accurately documenting the excessive asset grabbing and looting being done by the Farai Rwodzi-Mujuru-Interfin Bank Zimbabwe syndicate. GMRI Data Mining (www.gmricapital.com) which has been doing back ground research has received overwhelming support and very credible pointers and hints from whistleblowers who have come face to face with this mafia-like-money-laundering-syndicate which continues to suck the Zimbabwean Economy through corruption and dubious self enrichment schemes as demonstrated by their controversial of Century/CFX Bank then falsely claim they had paid Gilbert Muponda $ US5.3 million. http://www.newsday.co.zw/article/2010-08-25-interfin-acquires-13-of-starafrica

This article is a bit on the light side as it covers some of the smaller fish involved in this money laundering and exporting syndicate working for Zimbabwe’s second family of Vice President Joice Mujuru and retired General Mujuru. The level of wealth grabbing and accumulation has approached alarming and scary levels even measured by any kleptocratic standards. One is left to wonder what do these greedy and corrupt individuals would stop at given how they have spread their influence into most sectors of the Economy.

It is important to clearly highlight deals like these as they are the ones that Interfin Bank Zimbabwe and Meikles Africa Chairman Farai Rwodzi has been benefiting from and assisting to lauder the proceeds. This should also accurately inform Interfin business partners such as MoneyGram International. Multi Choice Africa who they are dealing with. In addition entities such as Kingdom Meikles Africa chaired by Farai Rwodzi role in the on going asset looting and money laundering must be documented.

Farai Rwodzi , Edwin Gumbo( Minister Rugare Gumbo is the enabling Uncle),Adam Molai ( married to President Robert Mugabe’s Niece) Edwin Gumbo currently owns four houses ( addresses provided) in Sandton, Johannesburg ,South Africa 3 of which are believed to be owned on behalf of his uncle Minister Rugare Gumbo . The illegal movement of the funds used to buy these properties has been done via various accounts including bank accounts at ABSA ( account number provided)
Whilst the brotherhood acted the whilst blowers they were busy pointing away from their illegal activities which they covered up by paying huge bribes such as depositing cash for several police officers and Reserve Bank of Zimbabwe officials to avoid arrest.
Efe securities ( Edwin ,Farai ,Edgerton) is part of the inside trading ring which works to get inside information on other business rivals and corporates. This information is then used to manipulate share prices and black mail Company executives.
At one of their offices at Hurudza house they do their illegal gold dealings and Minister Rugare Gumbo is partner and covers them politically on the small illegal gold deals whilst the bigger deals are handled at the Mujuru level.

So to enable them to be internationally legitimate they want Kingdom Bank badly as a get way to list on the New York Stock Exchange and achieve the ultimate in terms of money laundering using an American listed Conglomerate .This is why Farai Rwodzi as Meikles of Kingdom Meikles Africa has been at the forefront of seeking to kick Nigel out of Kingdom. The idea is to take over Nigel’s vision of listing Kingdom on the New York Stock Exchange.
The foot soldiers such as Aron Jani and Edwin Gumbo are proud because they are not on the sanctions list so their are the frontman who can play around on the MDC side and ZANU-PF side. The other guy is Ray Kaukonde who is involved in the Farai Rwodzi-Mujuru-money laundering scheme at times acting as an enforcer particularly to scare and intimidate business rivals and influence peddling. These guys are bad news they all posses South Africa resident permits always ready to run .
Edwin gumbo bought a couple of guys in CIO Mercedes benz vehicles from his father in law at mercury motors. These guys act as informers and informal enforcers used to cow and scare business rivals whenever the need arises. Bribing security services is a favourite past time for the gang as it allows them a free pass to get away with the most illegal of activities since some law enforcement officials are compromised and are partly on their payroll.
Farai Rwodzi has acted as financial nerve centre and facilitator and custodian of the looted funds at Interfin Bank which he co-owns with the Mujurus and other related politicians. Most of the proceeds of the looting spree end up at Interfin Bank Zimbabwe chaired by Farai Rwodzi resulting in Interfin Banking Corporation always claiming to be “the cash rich Group” .Its clear where the cash is coming from.

This article appears courtesy of GMRI CAPITAL – www.gmricapital.com . It is original content generated for 3MG MEDIA – www.3mgmedia.ca .

Gilbert Muponda is an Investment Banker and Founder of GMRI CAPITAL . He can be reached at; www.ZimFace.com and www.facebook.com/muponda

Email: gilbert@gilbertmuponda.com . Skype ID: gilbert.Muponda

Twitter ; http://twitter.com/gmricapital

Phone: 1-416-841-5542