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Court Reporter
MASSTOW Investment (Pvt) Limited director, Thomas Masango, took his two co-directors to court after they allegedly acquired company registration documents in a bid to boot him out of directorship.
Masango hauled Tendai Jemwa and Shylet Banana to Harare Magistrates Court on fraud charges.
Jemwa, who was representing the company and Banana denied the charges when they appeared before magistrate Mrs Judith Taruvinga who remanded them to January 6 for trial continuation.
The State led by Mr Tapuwanashe Zvidzai alleged that sometime in January 2010 Masango and Jemwa bought a piece of land in Philadelphia, Harare and registered it under Masstow Investment.
It is alleged that they intended to subdivide the piece of land into residential stands and equally share them.
Sometime in 2011, Masango and Jemwa engaged an architect, Gipteck Consultancy, to obtain a subdivision permit on their behalf.
The court heard that Masango and Jemwa were issued with a cluster development permit.
On January 12, 2012, Masango and Jemwa shared four stands each, the State alleges.
It is said that on September 28, 2018 Banana submitted a CR14 to the Registrar of Companies saying Masango had resigned from the company as a director.
Jemwa allegedly went on to file a court application at the High Court to evict Masango from the stands, saying he had resigned from the company.
The court heard that Masango was prejudiced US$1 500 000 in the process.
Online Reporter