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JEFFM Auctions defends actions in NetOne US$133k case

HARARE — The director of JEFFM Auctions (Pvt) Ltd, Jeffrey Mubaiwa, has denied allegations that his company misappropriated US$133,000 belonging to NetOne, claiming a dispute over payment methods involving Zimbabwean dollars (ZWL) and U.S. dollars (USD).

Mubaiwa argued that the telecommunications company was unwilling to accept ZWL payments, despite some buyers settling auction purchases in that currency. “We sold their items and raised the amount, with some buyers paying in USD and others in ZWL. When we met with NetOne, they refused to accept the ZWL payments and demanded USD instead,” Mubaiwa said.

He emphasized that his company fully paid NetOne using the currencies received from buyers. “We have proof of payment. Our contract required us to remit funds within 48 hours, but NetOne only provided account details 13 days later. Despite this, we paid them in full, in both USD and ZiG,” he said.

Mubaiwa also claimed that some NetOne employees participated in the auction but failed to pay for items they purchased. “Their boss, Masunda, bought a vehicle that is running perfectly. Others, like Bonface Chidzodzo, also bought items but haven’t paid,” he said.

The Zimbabwe Anti-Corruption Commission (ZACC) alleges that Mubaiwa embezzled proceeds from the auction of NetOne’s obsolete equipment, furniture, and vehicles, which raised US$172,204 on July 13. It is alleged that he deposited only US$39,000 and kept the remaining US$133,204 for personal use.

Mubaiwa was arrested and appeared before a Harare magistrate, where he was granted US$100 bail.