Chombo Z$14b fraud charges withdrawn

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THE State has today withdrawn charges against former Cabinet Minister Ignatius Chombo who was accused of misappropriating a $14 billion Reserve Bank of Zimbabwe Capital Expenditure loan which was meant to purchase farm equipment.

Chombo was being charged with fraud.

The charges were withdrawn before plea when he appeared before Harare Regional Magistrate Mr Stanford Mambanje.

Chombo was being accused of having misappropriated the loan he acquired under the RBZ Other Crops and Livestock extended to him between October 2005 and January 2006.

The State, in withdrawing the charges, said investigations revealed that he used the money as per the loan requirements.