Chivayo’s Bail Application Continues
Flamboyant Harare businessman Wicknell Chivayo will today appear in court for the continuation of his bail application following his arrest on allegations of defrauding the Zimbabwe Power Company (ZPC) of over $5 million.
Chivayo, who first appeared before Harare provincial magistrate Mr Elisha Singano on Friday is facing charges of fraud, money laundering and contravening sections of the Exchange Control Act.
He was however remanded in custody to today (Saturday) for continuation of his bail application.
It is the state’s case that Chivayo’s company, Intratrek Zimbabwe, was corruptly awarded the Gwanda solar power plant tender by ZPC at the instigation of the then Minister of Energy and Power Development, Samuel Undenge.
However, Chivayo allegedly failed to deliver on the project despite getting $5 607 814,24 from Government.
The State also indicated that Undenge, who was recently convicted of a separate charge, would also be arrested and prosecuted in connection with Chivayo’s case.
Prosecutors Michael Reza together with Zivanai Macharaga and Venranda Munyoro, who are both from the Special Presidential Anti-Corruption Unit, represented the State.
Lead prosecutor, Mr Reza opposed bail on the basis of interference, abscondment and seriousness of the offence, among other reasons.
“Fraud is a crime of deception and the total prejudice is $5 607 814,24 and of that amount, not even a single cent was recovered,” he said.
“The accused and his accomplices have managed to hide that money. The State papers indicate that Undenge is yet to be apprehended and Your Worship, he would be apprehended soon and jointly charged with the accused person.
He said if released on bail Chivayo was likely to abscond.
“The likely sentence of fraud is a maximum prison term of 35 years. If that will not induce a man to run away, then I do not know what would,” he said.
“The docket is almost complete and it is most likely that on his next remand, the State will furnish him with a trial date. The State has a strong watertight case.”
Mr Reza said granting Chivayo bail would not be in the interest of justice.
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