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Yeukai Karengezeka
Court Correspondent
The Kudamp Investments director Mpilo Mathuthu who had been engaged by a real estate company to do marketing on their behalf and allegedly defrauded it of US$28 000 by selling its stands illegally has been granted bail.
Harare magistrate Mr Dennis Mangosi granted him US$200 bail and remanded him to February 4.
The first accused is Kudamp Investments trading as Future Properties, and the second is Mathuthu who is one of the company directors
Mathuthu who is also representing the first accused appeared before Harare Magistrate Mr Dennis Mangosi charged with fraud.
The complainant is High Range Resourses Pvt Ltd represented by Dunia Shahari.
The State alleged that sometime in June 2023, Mathuthu approached Shahari seeking approval to market Shahari’s residential stands which are called Boronica Chiedza Park in Manyame-Beatrice, Makonde Heights in Chinhoyi and Victoria Range in Masvingo.
Mathuthu was given the mandate to market and was supposed to refer clients to the complainant and he would get a five percent commission.
Mathuthu started marketing the stands using the company name Kudamp Investments, indicating that the clients would buy stands by paying monthly instalments through him.
The unsuspecting clients responded to the advertisements and approached Mathuthu for payments.
The court heard that on January 9, a client only identified as Chinamasa, who had responded to Mathuthu’s advertisement and made payments, approached the complainant’s office intending to have an agreement of sale.
Chinamasa produced the receipts in the name of Kudamp Investments as proof of payment.
This is when the complainant learnt that Mathuthu was selling residential stands contrary to the mandate of marketing only.
Preliminary investigations instituted revealed that Mathuthu had sold 31 residential stands in Boronica Chiedza Park and pocketed several monthly contributions amounting to US$28 722.
Exhibits in the form of receipt books and files of offer and acceptance of purchase by Mathuthu were recovered from his office.
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