Dr Nkululeko Sibanda’s assets under ZACC threat

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THE Zimbabwe Anti-Corruption Commission (ZACC) is prepared to hunt the corrupt beyond the grave and now wants to seize property in the estate of the late Twalumba Holdings director, Nkululeko Sibanda.

Justice Loice Matanda-Moyo, the ZACC chairperson

Sibanda died aged 41 when he had been jointly charged with ex-Zinara chief executive Frank Chitukutuku with fraud involving US$4,7 million.

He left behind 39 stands of between 3 600 and 8 116 square metres with two double storey buildings and six single storey houses. ZACC reckons at least part of that real estate fortune might have been bought with the proceeds of crime.

Dr Sibanda also owned commercial immovable properties and over 20 undeveloped 6-hectare agro-residential plots registered in the names of Twalumba Properties and Attachards Enterprises.

Most of the properties are registered under Twalumba Properties, a company that is implicated in the fraud case that was investigated by ZACC.

Chitukutuku’s properties, valued at US$20 million, have since been frozen by the High Court as part of ZACC’s investigation into the fraud.

ZACC chairperson Justice Loice Matanda Moyo disclosed in a letter to the Master of the High Court dated 6th November that the commission is interested in the estate of the late Sibanda saying processes were underway to seek confiscation of the assets.

“Please be advised that the Zimbabwe Anti-Corruption Commission is seized with criminal case which has been referred to the National Prosecuting Authority, wherein the late Nkululeko Sibanda was jointly accused with Frank Chitukutuku and two others for contravening Section 136 of the Criminal Law (Codification and Reform) Act with actual prejudice of US$4,7 million.

“ZACC is now proceeding with the civil confiscation application through the NPA in accordance with Section 80 of the Money Laundering and Proceeds of Crime Act, to recover the US$4,7 million.

“Accordingly, be advised that ZACC is therefore noting its interest in the estate of the late Nkululeko Sibanda,” reads the letter.

The letter was also copied to the executor of the estate Mr Caleb Mucheche, who has since pledged cooperation with the investigators.

“We reiterate and underscore that, in sync with serving the best interests of justice and the rule of law, we will render maximum cooperation with your organisation as you relentlessly pursue the due process of law in tandem with your constitutional legal mandate of combating the vice and crime of corruption in Zimbabwe.

“We will do our best to regularly keep your esteemed office posted of any future developments concerning any ensuing stages in the process of the administration of this estate,” reads the executor’s response.

Meanwhile, Chitukutuku recently had his assets frozen by the High Court after the NPA raised the red flag that the property may be tainted.

The decision was made following an ex-parte application by Prosecutor-General Mr Kumbirai Hodzi for an unexplained wealth and asset freezing order in terms of Section 37B as read with Section 37H of Presidential Powers (Temporary Measures) (Amendment of the Money Laundering and Proceeds of Crime Act and the Exchange Control Act) Regulations, 2018 (Statutory Instrument 246 of 2018).-ZIMLIVE

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