SYDNEY MUBAIWA
KWEKWE-A Kwekwe Magistrate has sentenced former ZB Bank loan consultant, Cosmas Bhude (41) to three years and nine months in prison for committing fraud totaling over US$23,000.
According to court records, Bhude manipulated loan applications, forged documents, inflated amounts, and diverted funds for personal use between May and November 2023.
The court heard that on May 3, 2023, Bhude processed a fake loan of US$4 692 in the name of a client without his knowledge and withdrew the money using forged withdrawal slips.
On May 18 the same year, he processed another US$ 4 080 loan in the name of another client without consent and transferred US$3 650 of it to another account.
On September 1, 2023, a client applied for a US$3000 loan which he inflated to US$7 700 and gave the client his original request, diverting the remainder to repay arrears from the previous fraud cases.
The court further heard that, in November 2023, another client applied for a US$3500 loan which he inflated to US$6 550. He gave the applicant US$2770 and used the remaining balance to cover previous arrears.
The scheme was uncovered after victims noticed loan repayments continuing beyond agreed terms and approached the bank for clarification.
Bhude was also ordered to repay the victims US$4,600, US$4,000, US$4,080, and US$2,770 by September 30, 2025.
