Zimbabwean Authorities Probe $1.3M Investment Scam Involving Late Diplomat.
Zimbabwean authorities are working with law enforcement to investigate an investment scam. The scam, which dates back to 2000, targeted the late Ambassador to Belgium, Hurudza Gift Punungwe, and his wife, Runako Beauty Punungwe. The couple lost nearly US$1.3 million in the scheme.
Richard Kaye, a British national, orchestrated the fraud. He operated companies called Thomas Barclay Group (TBG) and Lloyd Morgan Company (LMC), which were based in Belgium and France.
Kaye remains at large despite years of efforts to find him. The Ministry of Foreign Affairs and International Trade, the National Prosecuting Authority (NPA), and the Zimbabwe Republic Police (ZRP) are working with Interpol to locate Kaye. They believe he may be hiding in the United Kingdom.
Kaye allegedly posed as a broker and convinced Ambassador Punungwe to invest US$214,233 in LMC. Five accomplices helped Kaye carry out the scam: Professor David McKay, Hendrik Vriesen, Erik Bjertnes Jr., Michiel Eyken-Slyuters, and Penny Willis Jones (also known as Penelope Slan Kaye).
After Ambassador Punungwe passed away, Kaye issued new share certificates in Mrs. Punungwe's name. In 2009, Mrs. Punungwe tried to cash out her investment. However, the funds were never returned to her.
The authorities are determined to bring those responsible to justice. They continue to investigate leads and work with international partners. The goal is to recover the stolen funds and hold the perpetrators accountable for their actions.
Zimbabwean authorities are working with law enforcement to investigate an investment scam. The scam, which dates back to 2000, targeted the late Ambassador to Belgium, Hurudza Gift Punungwe, and his wife, Runako Beauty Punungwe. The couple lost nearly US$1.3 million in the scheme.
Richard Kaye, a British national, orchestrated the fraud. He operated companies called Thomas Barclay Group (TBG) and Lloyd Morgan Company (LMC), which were based in Belgium and France.
Kaye remains at large despite years of efforts to find him. The Ministry of Foreign Affairs and International Trade, the National Prosecuting Authority (NPA), and the Zimbabwe Republic Police (ZRP) are working with Interpol to locate Kaye. They believe he may be hiding in the United Kingdom.
Kaye allegedly posed as a broker and convinced Ambassador Punungwe to invest US$214,233 in LMC. Five accomplices helped Kaye carry out the scam: Professor David McKay, Hendrik Vriesen, Erik Bjertnes Jr., Michiel Eyken-Slyuters, and Penny Willis Jones (also known as Penelope Slan Kaye).
After Ambassador Punungwe passed away, Kaye issued new share certificates in Mrs. Punungwe's name. In 2009, Mrs. Punungwe tried to cash out her investment. However, the funds were never returned to her.
The authorities are determined to bring those responsible to justice. They continue to investigate leads and work with international partners. The goal is to recover the stolen funds and hold the perpetrators accountable for their actions.
