Ex-Advisor to Reserve Bank of Zimbabwe Held on Fraud Charges

In a shocking development, Munyaradzi Kereke, a former advisor to the Reserve Bank of Zimbabwe, has been detained on allegations of fraud. The incident also involves Everisto Rukasha, the temporarily relieved CEO of the Harare Municipal Medical Aid Society (HMMAS), with both facing charges together.

The duo was presented before a magistrate in Harare, where they were held in custody pending their bail proceedings. The accusation centers around the fraudulent extraction of $137,000 from HMMAS. The prosecution claimed that in 2014, Rukasha, acting for HMMAS, agreed to buy Kereke’s Fortress Hospital for $800,000.

Allegedly, after the medical aid society paid in full, Kereke and Rukasha conspired, falsely asserting that Kereke was still owed $400,000. Rukasha is accused of fraudulently acknowledging this debt in March 2022, leading to a partial payment of $120,000 by HMMAS.

The deception unraveled in July when the board recognized there was no outstanding debt, halting further payments. Nonetheless, under threats from Kereke to repossess the hospital, additional payments were made. The case took a turn when the board reversed its decision to pay and reported the incident to anti-corruption authorities, resulting in the arrests.