The Harare Magistrates’ Court has sentenced a bank teller, Walter Matare, to 4 years in prison for fraud.
However, 1 year of the sentence was suspended if he repaid US$40,377, the amount he defrauded from EmpowerBank between January and June 2023.
According to the National Prosecuting Authority (NPA), Matare manipulated the bank’s system by claiming Zimbabwean Dollar (ZWL) deposits as United States Dollar (USD) deposits. This allowed people connected to him to withdraw USD, even though they had deposited ZWL.
The fraud was discovered in June 2023 when Matare deposited one of his accomplices’ accounts, which was immediately withdrawn, raising suspicions.
An investigation revealed that Matare had been treating ZWL deposits as USD at a 1:1 exchange rate, allowing his accomplices to withdraw the money in USD right after it was deposited.

Pindula News

A bank teller named Walter Matare lied about deposits at EmpowerBank and stole $40,377. He was sentenced to 4 years in jail, but could be out in 3 if he repays the stolen money. He pretended Zimbabwean dollars were American dollars, letting his friends take out the money. The fraud was caught when Matare's friend withdrew money right after it was deposited. Matare treated ZWL as USD, letting his friends take out the money easily.

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