Diamond Sale Proceeds Found In Solomon Mujuru's Accounts

You will recall that the minister of finance, Tendai Biti, had made a statement that the US$30 million raised in diamond sales earlier this year had not been tendered to his ministry and a forensic audit was required to undercover where the money was...

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"The missing diamond sales proceeds which have been subject to much debate have been linked to selected financial institutions including Interfin Bank Zimbabwe allegedly owned by retired General Mujuru through his business associate Farai Rwodzi. Media reports have been awash with missing US$30 million from diamond sales which the Minister of Finance Tendai Biti said never reached the Treasury.

These funds have reportedly been traced to a select group of financial institutions earning minimum interest whilst the ZMDC mines are collapsing due to lack of cash."

What say the minister of mines, the pro-Mugabe Obert Mpofu?

And while he’s at it, perhaps he can explain to us just why he deemed it necessary to physically remove some 30 kilograms of diamonds from the Reserve Bank of Zimbabwe that had been ordered into safe custody by the High Court…?

I am not going to hold my breath waiting for some answer.

What say ZANU PF on the idea that this money has been 'hidden' in accounts which belong to, or have links to former military supremo General Mujuru?

I will be very surprised if Mpofu utters even one word in his defence. When ZANU PF finds themselves in a tight corner, their stock response is silence. They refuse to say anything and just wait for the dust to settle before they continue as if nothing had happened...

"Proceeds from diamond sales were invested with financial institutions instead of being utilised to capacitate the gold mines," the report says. "The primary function of the Zimbabwe Mining Development Corporation is to invest in the mining industry in Zimbabwe on behalf of the State and not to invest on the money market. Part III, Section 20 of the ZMDC Act clearly articulates the primary function of the corporation," the official said.

A confidential ZMDC report in possession of the Zimbabwe Independent show that Mubayiwa and his suspended colleagues are being investigated for investing at least US$9 million in the money market while they let ZMDC-owned mines shut down due to lack of capital.

It is believed the top managers were paid kick backs by Interfin Bank and other banks to deposit the funds at these banks whilst the mines were being starved of cash. A well informed source confirmed the ZMDC managers would get various under the table payments in exchange for investing with selected banks which were involved in the corrupt syndicate."

I don't suppose that there will be very much corrective action taken and I can virtually rule out any criminal action against any managers or account managers.

ZANU PF do what they want, when they want, to whoever they want - and they have protection from Mugabe in these actions.

It then would make nonsense of Mugabe’s speech recently when he stated that the proceeds from the diamond sales should go to national coffers – and yet we now discover that the proceeds have been somehow placed in accounts that are not national, but distinctly of ZANU PF patronage.

Robb WJ Ellis

The Bearded Man