HARARE – Harare businessman Luka Ignatiis Fabris, convicted over a US$1 million fraud, has been acquitted upon appeal by the High Court.
Fabris was jointly charged with his company, Spartan Security which was also found guilty by magistrate Feresi Chakanyuka earlier this year.
However, High Court judges of appeal Justices Happias Zhou and Benjamin Chikowero set aside Chakanyuka’s ruling, stating that the state had failed to prove essential elements of the alleged crime.
“The appeal is allowed. The conviction is quashed, and the sentence has been set aside.
“The first accused, Spartan Security, is found not guilty and acquitted, and so is the second accused Lucas Fabris,” read the order.
Chakanyuka had found Fabris guilty of duping a business partner of US$1 million in a deal-gone-wrong.
Prosecutors alleged that Fabris conned Leigh Ann Patricia Rudland who invested in his company after agreeing that she would get 2 percent of her total investment every month.
It was alleged that in 2019, Fabris, acting on behalf of his company, approached Rudland and told her that the company was involved in very profitable cattle ranching.
“He lured her to invest into the business and promised her that she would get two percent of her total investment every month,” said the NPA.
It was further alleged that Rudland, who had her money banked with her lawyers, instructed her lawyers to transfer some money into Fabris’ bank account.
On March 21, 2019 Rudland’s lawyers transferred ZW$4,800,000.
The two agreed that the money was equivalent to US$1,000,000 at the bank rate that was obtaining at that time.
The state said after Rudland made her investment, she only received US$540,000 in total returns and thereafter, Fabris stopped releasing her dues while giving her endless excuses, a situation that prompted her to file a case against him.
However, during trial, no evidence was submitted by the State to prove that she only received the US$540,000.
Fabris denied the allegations during trial.
It was his defence that they had agreed to change a bank transfer into cash and that the value of the cash fell because of inflation.
He also said he paid Rudland all her money and was no longer indebted to her.
He contended that the deal had nothing to do with any investment and was simply an arrangement with Spartan for her to convert ZW$4,8 million electronic transfer into ZW$4,8 million in local currency cash with a one percent deduction by Spartan.
Fabris said Rudland had to collect her cash in batches as she had agreed and by the time she collected the last tranche, her money had lost value due to inflation before she started to demand compensation for the inflation inflicted loss, which directors of the company declined claiming this would amount to her unjust enrichment.
The businessman also insisted that the matter was civil but Rudland chose to seek recourse within criminal justice system.
The presiding magistrate however ruled in favour of Rudland noting that witness evidence was satisfactory.
Rudland however insisted on compensation because the agreement states that she would be paid in USD.
