- Chivayo moved money from company account to an unknown destination
- Chilstom house acquisition circumstances under investigation
THE asset recovery blitz launched by the Zimbabwe Anti-Corruption Commission (Zacc) has sucked in controversial businessman Wicknell Chivayo, and his Borrowdale house is alleged to have been acquired through proceeds of corrupt activities.
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Documents in Zim Morning Post’s possession show that Zacc is at advanced stages of investigations in relation to a house purchased by Chivayo at Chilstoms, Borrowdale.
Allegations are that the period extending from December 4, 2015 to April 29, 2016 he, on behalf of Intratrek, received US$5 million from Zimbabwe Power Company (ZPC) as funds in trust.
The funds were transferred in batches from the ZPC Stanbic Bank account number 0240033958501 into Intratrek CBZ account number 0112355483001.
According to the documents at hand, Chivayo corruptly moved money from his company’s account to an unknown destination and raised forged invoices.
He subsequently bought the Chilstom house for US$500 000 from former National Social Security Authority (NSSA) board chairman Robin Vela.
Impeccable sources further revealed that he engaged his partner Ibrahim Yusuf , who is a known investor in real estate and purchased properties in Zambia and South Africa.
“We have done our investigations and established that he teamed up with Yusuf (Ibrahim) and bought properties.
“Yusuf is a big investor in real estate across Sub-Saharan Africa and Chivayo took advantage of that and acted as a conduit for the purchases,” revealed our source.
This publication understands that Zacc has already submitted a draft application for the confiscation of property acquired through corrupt activities at the High Court in Harare and National Prosecution Authority Assets Forfeiture Department.
The application is in accordance with Section 60 of the Money Laundering and Proceeds of Crime Act (Chapter 9:24).
The blitz comes after Zacc revealed it had identified over US$7 billion in cash and properties stashed outside the country.
According to Zacc, some of the properties and cash are in countries such as Switzerland, London, the United States, Singapore, Hong Kong, Malaysia, Mauritius and Spain.
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