Online Reporter
Zvikomborero Parafini
HARARE businessman and chairman of the Zimbabwe Insurance Brokers, Never Mhlanga, has been remanded in custody after he appeared in court charged with fraud involving US$208 000.
Mhlanga yesterday appeared before Harare regional magistrate Marewanazvo Gofa, who asked the State to justify its consent to bail. The complainant is Ludham Investments, which is being represented by Tinashe Able Chimanikire, its director and company secretary.
Circumstances are that sometime in November 2024, Chimanikire came across an article in a local newspaper that stated that Briolette Services, trading as Montclair Hotel and Casino, had been sold to RTG Group for US$5 million.
He got interested in the matter considering the fact that Ludham Investments is a shareholder in the said company, holding 4,17 percent shares.
Chimanikire contacted other shareholders of Montclair Hotel and Casino to check if they were aware of the transaction. He was informed by Mr Earnest Matienga, one of the directors of NDH Holdings, that the sale agreement had been signed and the transaction was going through.
He enquired as to the reason why Ludham Investments had not been contacted or involved in the transaction, because all the 24 shareholders of Montclair Hotel and Casino which include Ludham Investments, have an equal shareholding of 4.17 percent.
He was informed that Mhlanga was representing the company, Ludham Investments, in that transaction.
Chimanikire allegedly contacted Mhlanga enquiring the reason why he went on to represent the company when he knew that he had since resigned. Mhlanga failed to give any reason.
The State alleged that the total value of prejudice as a result of the action is US$208 500, being the equivalent of 4.17 percent shares of the total sum paid for Montclair Hotel and Casino (Pvt) Ltd, and nothing was recovered.
Online Reporter