HARARE – Fraud-accused businessman Genius Kadungure was denied bail on Friday after a magistrate ruled that he committed the alleged crime while on bail for similar offences.
Kadungure, a liquified petroleum gas trader, was arrested on Tuesday accused of defrauding the Zimbabwe Revenue Authority (ZIMRA) by deliberately undervaluing a Bentley Continental GT which he imported from South Africa.
Harare regional magistrate Crispen Mberewere said Kadungure was not a good candidate for bail as he was likely to commit more crimes of dishonesty.
Prosecutors say Kadungure altered sales receipts for the Bentley, and ended up paying US$58,665 less customs duty because of the misrepresentation.
The businessman has already been ordered by the High Court to pay the shortfall after ZIMRA filed a civil claim last month.
Kadungure was out on bail following his arrest in November 2018 on tax evasion charges involving US$3,5 million.
In that case, he is charged as the director of Piko Trading and Pioneer Gas.
Prosecutors say between February 2009 and May 2016, Kadungure, with the intention of evading paying value-added tax, made a misrepresentation to ZIMRA that he had made total sales of US$2,777,678 inclusive, instead of the actual US$9,092,951.
ZIMRA detected the allegedly falsified declaration when it conducted an investigation into the activities of Piko Trading.
Prosecutors said during a lifestyle audit into Kadungure in 2016, the businessman failed to prove his source of income. ZIMRA slapped him with a tax bill of US$1,191,713 on his properties which included luxury cars, a sprawling mansion in Domboshava and imported furniture.
Prosecutors also say they have evidence Kadungure smuggled LPG from South Africa and Zambia.
