Tuesday 6 February 2024

FIRM'S BOSS LOSES $120K IN FOUR STANDS DEAL

The managing director of National Tyres of Zimbabwe Benson Phillip Samudzimu lost US$120 000 to a property developer who sold him four residential stands that have pending disputes in the courts without informing him.

The first accused is Brian-Ryan Developments represented by the second accused Brain Mazhanga, in his capacity as a Co-Director of the company.

Mazhanga through his lawyer  Mr Taurayi Chirinda was granted US$100 bail and was remanded to March 5.

Prosecutor Mr Rufaro Chonzi alleged that during the period extending from June 2019 to March 2023, Mazhanga representing the company approached Samudzimu on four different occasions in need of cash to run his business in exchange for their residential stands in Norton.

Samudzimu showed interest and both parties agreed that the stands would be going for US$30 000 each.

He then paid Mazhanga a total of US$120 000 for the following stand numbers 14140, 32693, 14192 and 32690 Norton Township of Gallowway on four different occasions.

During the sale of the above-mentioned stands, Mazhanga assured Samudzimu that the stands had validly approved subdivision permits from the Norton Town Council.

The court heard, after the sale, Samudzimu later established that the stands he had purchased from Mazhanga had a pending case at the High Court, which showed that another company Peterhands Private Limited was claiming ownership of the same four stands and Norton Town Council had canceled the permit such that Samudzimu could not develop the stands.

Samudzimu then engaged Mazhanga who kept on giving false promises that he would rectify the issue.

He later established that he had been duped and made a report to the police on February 2.

Investigations made by police led to the arrest of Mazhanga.

Samudzimu suffered an actual prejudice of US$120 000 and nothing was recovered. Herald

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