HARARE businessman Genius `Ginimbi’ Kadungure was on Friday denied bail when he appeared at Harare Magistrates’ Court facing six counts, among them tax evasion and money laundering.
Ginimbi was not asked to plead when he appeared before regional magistrate Bianca Makwande.
Magistrate Makwande ruled that it would not be in the best interest of the public and justice to release Ginimbi on bail.
She also said granting Ginimbi bail will undermine confidence of the public in the judicial system.
Magistrate Makwande also ruled that Gimnimbi is a flight risk as he is established in South Africa.
“Bail is a right and is an entitlement if the individual does not interfere with witnesses, or disturb public order.
“Although the State had consented bail, it undermines the justice system as he is facing another fraud case before another court, in this case, Zimra is the complaint but he is alleged to have caused loss of revenue to the whole country so his release would undermine confidence of the public in the judicial system,” said Makwande.
Below are the counts:
In the first count, it is alleged that during the period extending from February 2009 and May 2016, Ginimbi with the intention of evading tax made a misrepresentation to Zimra that his company had made total sales of $2 777 678 inclusive of Value Added Tax whereas in actual fact the company had made total sales of $9 092 951.
In counts two to six, the State alleges that Zimra conducted a lifestyle audit on socialites after observing excessive expenditure which were not matching their tax declarations. In March 2016, Ginimbi was interviewed and revealed that he owns a house in Domboshava worth $200 000, a Rolls Royce valued at R4m a Bentle valued at US$50 000 a Range Rover worth Rlm a Benz S class worth RI m and a BMW worth US$3000. Ginimbi was asked to prove the source of his income but failed.
Sabastian Mutizirwa represented the State. He is expected back in court on November 30.