Interfin Bank Directors seem to be ill advised and practizing massive self-deception on a grand scale. It is well documented and in public domain that I challenged the illegal sale and or transfer of Century bank through High Court case HC-6244-04.
Yet they go ahead and somehow convince a Lawyer of Mr Sternford Moyo’s standing to issue a legal opinion that has an effect of breaking the ZSE Act and mislead the investing public. This is a serious offence under the ZSE Act, Company Act and other Zimbabwean laws that govern director fiduciary duties.
These Directors need to know that in their personal capacity they could be fired, tried and convicted for lying to minority shareholders and the Investing public...their employer.
Everyone wants the money, but it pretty much amounts to selling your soul when supposedly respected members of the comm7unity such as Bank directors willingly mislead the regulatory bodies such as The Reserve Bank of Zimbabwe, Zimbabwe Stock Exchange ,Ministry of Finance, Securities Commission etc.
The ZIMBABWE STOCK EXCHANGE ACTActs 27/1973, 24/1975, 15/1981, 20/1984; R.G.Ns 54/1975; 1135/1975, S.Is 468/1979, 236/1980. Is clear on this. Below is an extract from the ZSE act which Interfin Banking Corporation Directors ought to be familiar with since they run a Company governed by this act.
“73 Prohibition of fraudulent acts or of carrying on business of stock exchange
(1) No person shall—
(a) make or cause or permit to be made in any document or return which
is required by or under this Act to be sent to the Secretary, the Minister, the Registrar,
the Committee, the Exchange auditor or an auditor referred to in paragraph (d) of
section forty-six a statement which he knows to be false or does not know or believe
to be true; or
(b) by addition, alteration, erasure or omission falsify any document or
return referred to in paragraph (a); or
(c) by any statement, promise or forecast which he knows to be false or
does not know or believe to be true induce any other person to purchase or sell any
securities; or
(d) directly or indirectly use or take part in any manipulative or deceptive
method of dealing in listed securities likely to stimulate further dealings in listed
securities or any class or classes thereof on the Exchange; or
(e) by means of fictitious transactions or the spreading of false reports
influence the prices of listed securities or any class or classes thereof on the
Exchange.”
Practizing self deception at an alarming scale when they willingly break the relevant Governing Act .This act is freely available on the internet and Interfin Bank Directors need to familiarize themselves .The direct link is here http://www.parlzim.gov.zw/cms/Acts/Title24_COMMERCIAL_AND_FINANCIAL_INSTITUTIONS/ZIMBABWE_STOCK_EXCHANGE_ACT_24_18.pdf
Interfin Banking Corporation Directors seem to be practizing moral flexibility whilst bending rules and regulations to conceal their prior knowledge of a legitimate claim which they with held informing their employers who are the Investing public who are protected by the ZIMBABWE STOCK EXCHANGE ACT Acts 27/1973, 24/1975, 15/1981, 20/1984; R.G.Ns 54/1975; 1135/1975, S.Is 468/1979, 236/1980.
High Court Case HC-6244-04 was filed in 2004 and its still pending before the courts. Yet Interfin Banking Corporation Directors pretend there was never any challenge to their illegal and irregular grabbing of Century/CFX Bank.
By will fully and deliberately misleading the Investing Public in violation of the ZSE Act Interfin Banking Corporation is an organization that has re-defined the definition of corruption , deceit and concealment of material information from Investing public and Regulatory Authorities.
This article appears courtesy of GMRI CAPITAL – www.gmricapital.com . It is 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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