NetOne Lost Over US$1M In Deal With Mauritian company

Share on FacebookShare on TwitterShare on LinkedIn
NetOne Lost Over US$1M In Deal With Mauritian company

Telecommunications giants, NetOne reportedly lost over US$1 million dollars in a USSD server gateway deal with a Mauritian company.

This was revealed in court on Monday when seven executives from NetOne, including chief executive Lazarus Muchenje, and a former intern appeared in court for remand on charges of criminal abuse of office and or alternatively fraud.

The executives were granted $3 000 bail each by magistrate Mr Lazini Ncube after spending the weekend in custody while Shamaine Kedenhe, who was a legal intern when the offence was allegedly committed was freed on $700 bail.

The state alleges that in 2019, Muchenje and his accomplices entered into a US$1 million deal with Paragi Agarwal, a director of Bankai Pvt Ltd, who purported to be representing 6D (Pvt) Ltd of India which was owed US$1 million by NetOne.

The deal proposed by Agarwal would result in the cancellation of the debt but 6D reportedly told NetOne that Agarwal was no longer working for 6D, therefore, it would not be part of any deal negotiated by Agarwal.

The NetOne boss, however, allegedly went ahead with the deal and also instructed his accomplices to exclude the clause that indicated cancellation of the 6D debt.

More: The Herald



Leave a Comment

Buy Phones on Credit.

More Deals