A Harare-based accountant, Kiritea Da Silva (42), found herself in hot water on Wednesday after being arrested for allegedly stealing a staggering US$101,573 from her employer, Patrick Andrew Walsh.
The alleged theft, which took place between January 1st, 2023, and August 2024, has sent shockwaves through the business community, raising concerns about the vulnerability of companies to internal fraud.
Walsh is a prominent businessman who runs three companies – Mac Brothers Zimbabwe (Pvt) Limited, Pan Cleaning Services (Pvt) Limited, and Brennan’s Diesel Services, all located in Graniteside, Harare.
He has been left counting the cost of Da Silva’s alleged betrayal. The female accounting expert was responsible for bookkeeping and issuing cash receipts and was entrusted with depositing funds into Walsh’s Nedbank Nostro account. However, the prosecution alleges that she allegedly diverted the funds for her own use, instead of fulfilling her duty.
Prosecutor Anesu Chirenje outlined the State’s case, alleging that Da Silva, despite signing for the cash received, failed to deposit it into the designated account. Instead, she allegedly converted the money to her own use.
The alleged theft, which spanned over a year and a half, represents a significant financial loss for Walsh and his companies. The incident has highlighted the importance of robust internal controls and the need for vigilant oversight of financial transactions.
The case has also raised concerns about the potential for fraud within businesses, particularly in the accounting and finance departments. Companies are increasingly looking to implement stricter measures to prevent such incidents from occurring.
Da Silva was not asked to plead to the charges when she appeared before Regional Magistrate Mrs Marehwanazvo Gofa. She was remanded to September 30th, 2024, for her routine remand.
The prosecution’s case hinges on the evidence presented, including the cash receipts signed by Da Silva and the absence of corresponding deposits in Walsh’s account.
Two weeks ago, another accountant was also arrested for fraud. Joe Leeroy (38), an former accounting executive at Croco Motors, was arraigned before the courts on charges of fraud, facing accusations of siphoning US$119 000 from his employer. The money was intended for the importation of two Ford Transit buses for a client, Bureau Veritas, represented by Mr Tendai Jeremiah Malunga.
