adminSenior Court Reporter
THE trial of the director of Geozing Pawnbrokers Investments, George Zingane, who is facing charges of swindling more that 100 investors of their money running into thousands of dollars, was yesterday further postponed. Zingane (49) Kingston Court, Famona, in Bulawayo pleaded not guilty to fraud charges when he appeared before Bulawayo magistrate Mr Crispen Mberewere.
He was further remanded to 19 June on $2 000 bail.
As part of the bail conditions, Zingane was ordered to surrender his passports as well as to reside at the given address until the matter has been finalised.
He was also ordered to report to the nearest police station twice a week and not to interfere with ongoing police investigations.
The prosecutor, Mr Jeremiah Mutsindikwa, said between March last year and this year, Zingane acting in common purpose and with intent to defraud the complainants of their money, placed adverts in the local newspapers.
He also allegedly issued out pamphlets misrepresenting to the public that his company, Geozing Pawnbrokers, had been authorised to accept deposits from the public. Geozing Pawnbrokers is a branch of Geozing Investments, owned by the accused and its name stems from the first three letters of his first name and the first four of his surname.
Zingane would through his pawn broking company allegedly invite people to deposit their money promising to pay 30 percent interest per month.
Mr Zingane would draw a contract form with his alleged clients where they would provide their identity details and the amount invested.
The complainants allegedly made different deposits during that period. The court was told that Zingane took the money and converted it to his own use.
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