Former ZANU PF legislator for Muzarabani South, Edward Raradza was today hauled before Harare magistrate Rumbidzai Mugwagwa on allegations of stealing trust property belonging to Zimbabwe Farmers Development Company (ZFDC).
Allegations against the former vice-chairperson of the Zimbabwe Farmers Union are that during his time as an employee of ZFDC connived with two other accomplices to defraud the farmers company of money and equipment.
It is the state’s case that during the period between 2005 to 2010, ZFDC received a $60 million credit facility for agricultural equipment valued at $60 million from China’s Exim Bank.
Raradza and his two accomplices, Mathew Raradza and Thomas Nherera converted agricultural equipment received from China including tractors, bulldozers, dumper trucks and excavators to their own use thereby causing a $9 741 286.76 loss to ZFDC.
The other count involves the first and the second accused persons who in May 2014 gave Harare business man Philip Chiyangwa farming implements worthy $597 844.12 on credit and later reduced the debt to $500 000 while transferring the remainder of the money into the accounts of their private owned companies.
The state heard that this resulted in ZFDC losing the sum of $494 423.76.
Raradza and his accomplices was granted $600 bail on both counts, ordering them to report to police once every week.
