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
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