bank.jpgA Stanbic Bank manager, Xavier Chikoko and a Reserve Bank of Zimbabwe employee, Thedius Mudonhi have been arraigned before a Harare Magistrate facing charges of fraud involving US$203 294.66.


It is the State’s case that from October 2009 to December 2009 the accused hatched a plan to defraud Stanbic Bank.

Chikoko is alleged to have transferred US$203 294.66 to Mudonhi’s account, who later withdrew the cash.

Meanwhile, another Stanbic Bank manager, Cuthbert Chitima has been arrested on allegations of approving the fraudulent transfer.

Chitima is the owner of Premier League side Gunners FC.