By Staff Reporter
HARARE — Alliance Holdings director Joseph Kanyekanye has been dragged to court facing fraud, extortion, and money laundering charges after allegedly using forged documents and threats to siphon more than US$663 000 meant for Independence Day celebrations.
According to court papers filed by the CID Law and Order section, Kanyekanye (58) allegedly worked with accomplices who are still at large to pressure Pharmaceutical and Chemical Distributors (PCD) director Shar Prashanta into releasing funds between March and April this year.
Prosecutors allege Kanyekanye falsely claimed the money was urgently needed for senior Zanu PF officials preparing for Independence Day celebrations in Maphisa and that President Emmerson Mnangagwa had approved the release of the funds.
The State says the accused threatened the complainant and warned that failure to release the money could affect future payments and approvals from the government.
Acting on the alleged misrepresentation, US$663 480.75 was transferred on April 17, 2026, from a trust account belonging to the complainant’s lawyers into a Jemina Capital CBZ Bank account allegedly controlled by Kanyekanye.
“The money was never used for its alleged intended purpose,” court papers read, “but instead benefited the accused and his accomplices.”
In the fraud charge, prosecutors allege Kanyekanye and his accomplices forged documents purportedly signed by President Mnangagwa and submitted them to the Ministry of Finance and Investment Promotion to facilitate payments linked to treasury bills.
The State says Treasury processed the payment genuinely believing the instructions had come from the President’s Office, resulting in US$1.8 million being deposited into the complainant’s account.
Court papers further allege the accused later used the forged documents to pressure both the complainant and his lawyers into releasing part of the funds.
Kanyekanye is also facing a money laundering charge.
Prosecutors allege that after receiving US$663 480.75 through extortion and fraud, the accused transferred the money to various third-party accounts to conceal its origin and disguise its movement and ownership.
The State argues that Kanyekanye knew or suspected the money was proceeds of crime.
Evidence expected to be presented in court includes witness statements, bank records, WhatsApp messages, emails, video footage, and allegedly forged documents submitted to the Ministry of Finance.
Kanyekanye was arrested on May 14 and appeared before the Harare Magistrates’ Court, facing charges of extortion, fraud, and contravening the Money Laundering and Proceeds of Crime Act.
