Crimes and Courts
KWEKWE – A former ZB Bank loan consultant, Cosmas Bhude (41), has been sentenced to three years and two months in prison after being convicted of defrauding clients of more than US$23,000 in a loan scam.
Bhude, who was based at the bank’s Kwekwe branch, was found guilty on four counts of fraud committed between May and November 2023. The National Prosecution Authority of Zimbabwe confirmed that he received an effective jail term following a thorough investigation.
Prosecutors revealed that Bhude manipulated loan applications and forged documents to divert funds into his own accounts. The fraud was uncovered when clients detected discrepancies in their loan statements and reported the matter to the bank.
Initially sentenced to six years in prison, Bhude had part of his term suspended on condition of restitution. He is required to repay US$4,600, US$4,000, US$4,080, and US$2,770 to his victims by September 30, 2024.
The case has raised concerns within the Midlands banking sector about internal controls and the potential for abuse of position by trusted staff.
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