SA’s Metallon Gold Siphoned $31m out of Zim, Court Told
- Zimbabwe The Herald 2017
- 2p.
The article reveals how Zimbabwe’s biggest gold producer, Metallon Gold is facing allegations of externalising over $30 million through dividends paid to shareholders without profits to back them and fictitious external loan payments. This comes as the net is closing in on externalisers who, according to an exclusive report by Business Weekly last week, have shipped out $3 billion since 2015.In a matter which is now before the court for violation of the Exchange Control Act, Metallon is being accused of transferring huge amounts out of the country without exchange control approval on the pretext of servicing external loans, paying for services rendered or settling obligations to management.
