RioZim faces fraud allegations as workers seek corporate rescue

Workers at RioZim mining company want courts to step in and save their jobs. The employees say bosses have been stealing money and not paying wages for months. Many miners cannot afford food or keep their children in school because they have not received paychecks.

Company leaders sold valuable mines and coal reserves without telling anyone the real prices. Workers believe executives took millions of dollars from a mine sale and hid the cash in secret bank accounts. The tax authority froze the company's official bank accounts after finding problems with their finances.

Employees say management runs the business through hidden channels that nobody can check. Directors appear to control former company assets through fake shell companies. Workers have lost their homes and medical coverage because bosses never paid required contributions to pension and health funds.

The mining giant operates without proper banking systems and collects money informally to avoid oversight. Some agreements were signed with false dates to help hide money movements from auditors. Union representatives call the situation outright theft from both the company and Zimbabwe's people.

Hundreds of workers face unemployment if courts do not act quickly to protect the company. CEO Swami Rajgopal has refused to answer questions about the crisis. Workers filed their rescue request last month and warn that RioZim could collapse completely without immediate court intervention.
 

Attachments

  • RioZim faces fraud allegations as workers seek corporate rescue.webp
    RioZim faces fraud allegations as workers seek corporate rescue.webp
    60.3 KB · Views: 94

Trending content

Sponsored

Top