Ark Investments Couple Face Court for Forging Valley Lodge Documents and Embezzling US$85K
A couple who owns Ark Investments appeared in court on charges of fraud, after forging Valley Lodge documents and embezzling over US$85,000 from a firm. Clark Clever Makoni and his wife Beverly Aisha Makoni faced Harare Magistrate Dennis Mangosi.
Forgery, Directorship Takeover & Engagement and Commission Agreement
The couple are accused of forging documents belonging to Valley Lodges (Pvt) Ltd and fraudulently assuming directorship of the company by submitting a forged CR14 form to the Registrar of Companies.
In July 2017, Valley Lodges (Pvt) Ltd verbally engaged the services of Clark Makoni and his wife for estate management among other properties. The couple was to be paid a monthly 5 percent commission.
Fraudulent Forging of CR14 Form & Deception at ZB Bank
On August 10, 2017, the Makonis’ allegedly conspired to forge a CR14 form. Clark Clever Makoni appointed himself as director and company secretary, while Beverly Makoni assumed the position of director. Armed with the forged CR14 form, the couple approached ZB Bank Mutare branch, where Valley Lodge held its funds. They misrepresented themselves as the new owners of Valley Lodge (Pvt) Ltd and requested a change in signatories.
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Roles at the Bank & Fraudulent Takeover
At the bank, Clark posed as the managing director, while his wife assumed the role of finance director. The bank altered the signatory card based on their false claims. The Makonis’ then added their signatures to the bank’s signatory card, allowing them fraudulent access to Valley Lodge’s account.
Inflated Salaries and False Resignations
At Valley Lodge, the couple hired four additional employees and awarded themselves inflated monthly salaries based on the black market rate of US$1 to RTGS 16K. The forged CR14 form indicated the false resignations of Directors Ayoob Omar and Mohammed Hussein Omar on August 10, 2017.
Internal Investigations and Property Acquisition
Valley Lodge grew suspicious, prompting internal investigations. Makoni and his wife allegedly utilized the stolen funds to purchase properties, the details of which remain undisclosed.
The rise in fraud cases involving couples is highlighted in a recent report by iBulawayo, specifically the Ivy Kombo and Husband’s Fraud Trial. These revelations emphasize the need to protect businesses against forgery and embezzlement.