Messenger duped bank by fake letter for loan

Messenger duped bank by fake letter for loan

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ZIMBABWE – A University of Zimbabwe messenger who duped MBCA Bank after he tendered a fake letter for a loan application which became successful will be sentenced today.

Joseph Makaranga, 30, who unlawfully gained US$3 900 after MBCA Bank granted his loan application, will be out of custody while he awaits his sentence.

State, led by prosecutor Zorodzai Dumbura proved that sometime in 2013, MBCA Bank availed a loan facility to the public.

And it was proved that one of the conditions of that loan scheme was that the employer of the applicant would certify to the bank that the beneficiary would remain employed until the loan is serviced.

The other condition was that the employer was also required to undertake to the bank that the beneficiary’s salary would continue to be received through the bank and that in the instance that the beneficiary was terminated from employment; the employer would process his or her benefits through the bank to recover its dues.

Joseph then saw that as an opportunity to defraud the bank as he made a fake letter as if it had been issued by the UZ and signed by Joreen Nyamadzi who is a deputy registrar human resources.

On April 4 2013, Joseph went to the bank with the fake letter and he submitted it.

MBCA Bank then considered his application and on April 11, Joseph was made to sign an offer letter from the bank agreeing and undertaking to carry out the obligation of not to redirect his salary to another bank in any way for the whole duration of the loan facility.

And the bank then approved his application and it gave him US$3 900 through his account and he only repaid the loan for three months before he stopped the transaction.

Joseph then advised his employer to deposit his salary into his Ecobank account as he did not want to service the MBCA loan.

On October 26, MBCA authorities went to the UZ to get clarity on the issue and Joreen then realised that the letter of undertaking was fake and a police complaint was made.

It was proved that only US$153 was recovered.

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