Online Reporter
Trish Mukwazo, [email protected]
TWO men who allegedly defrauded CBZ Bank by using title deeds belonging to a deceased person to secure a US$41,000 loan have been further remanded to March 13 for a ruling on their application for discharge.
Anoop Ranmanlal Desai, director of Phenduka Supplies Pvt Ltd, and Prosper Moyo, son of the deceased whose title deeds were used in the loan application, appeared before Bulawayo regional magistrate Ms Sibonginkosi Mnkandla facing fraud charges.
The State closed its case yesterday after leading its final witness, Detective Sergeant Jacob Kachitsa, the investigating officer. He told the court that Desai and Moyo allegedly worked in cahoots with another suspect, Rahmiben Tharolbual Desai, who is still at large.
Det Sgt Kachitsa further testified that the late John Nkonyane Moyo, whose title deeds were fraudulently used, had three children, including Prosper. It is alleged that Prosper facilitated the submission of the property deeds to Desai, leading to the fraudulent acquisition of the loan.
Witnesses from CBZ Bank testified in court and produced paperwork as evidence supporting the State’s case.
The prosecutor Nomthandazo Mafu told the court that on 6 July 2016, Desai and Prosper, in collaboration with Rahmiben Tharolbual Desai, approached CBZ Bank to apply for a loan on behalf of Phenduka Supplies Pvt Ltd.
“The accused persons presented title deeds for a property registered under the late John Nkonyane Moyo as collateral. They were given guarantor forms that were required to be signed by John Nkonyane Moyo,” said Ms Mafu.
They later returned the documents to CBZ Bank, purportedly signed by John Nkonyane Moyo, well aware that he was deceased.
The court heard that CBZ Bank processed the loan application based on the provided documents, approving a loan of US$30 000 in 2016. The funds were deposited into CBZ Bank account number 026023699010014, which belongs to Phenduka Supplies Pvt Ltd.
CBZ Bank later registered a mortgage bond for US$41 000. However, after Desai failed to repay the loan, the account was downgraded to recoveries in 2019.
It was during the bank’s efforts to auction the property that it was discovered that the property belonged to a deceased individual and, therefore, could not be sold.
“As a result of the accused persons’ actions, the bank suffered an actual prejudice of US$30 000, plus US$11 000 in accrued interest,” said Ms Mafu.
