Finance Officer Accused of Diverting US$170k from Employer

A finance and administration officer at Real IPM Zimbabwe has appeared in court accused of diverting US$170,000 meant to pay an agricultural products supplier for his personal use.

Stuart Ross Hildebrand (65) appeared before Harare regional magistrate Marehwanazvo Gofa facing a charge of theft.

Prosecutors allege that Hildebrand was employed by Real IPM Zimbabwe as a finance and administration officer in July 2023 and was responsible for making payments to the company’s suppliers.

The court heard that on 7 June this year, a representative of the company received a call from its India-based supplier, T. Stains, claiming that Real IPM Zimbabwe owed it US$75 000 for agricultural biological products supplied to the company.

The supplier’s claim reportedly raised suspicions about Hildebrand, who had been instructed to make payments to the company.

The complainant allegedly obtained bank statements and discovered that Hildebrand had underpaid the supplier while allegedly diverting company funds for his personal use.

Prosecutors further allege that Hildebrand attempted to conceal the transactions by forging deposit slips and falsely representing that he had paid the supplier the full amounts entrusted to him.

Investigations allegedly revealed that some of the money was instead used to settle his medical bills and repair his vehicles without the company’s authorisation.

The court also heard that the complainant made several attempts to contact Hildebrand to recover the money, but he allegedly became evasive and could not be reached.

A police report was subsequently made, leading to his arrest.

The State alleges that the total amount stolen was US$170 000 and that none of the money had been recovered.

Hildebrand is expected to return to court as proceedings continue.

Tags Zimbabwe Written by Staff Reporter 263Chat is a Zimbabwean media organisation focused on encouraging & participating in progressive national dialogue