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Prosper Dembedza
Court Correspondent
Harare regional magistrate Mr Stanford Mambanje will deliver his sentence in a fraud case involving US$1.5 million on
October 31.
Martin Murimirambeva allegedly sold businessmen Nyasha Watyoka and Gilbert
Muponda’s property which is valued at US$1,5 million.
Watyoka and Muponda are directors and shareholders of Theright Investments (Pvt) Ltd.
It is the State’s case that sometime in 2003, Watyoka and Muponda acquired Theright which owned a property at number 9064
Belgravia, Harare.
The two became the shareholders and directors of the company.
It is alleged that on December 10, 2020, Murimirambeva and his accomplice Leno Be Villiers, who is still at large, fraudulently
registered themselves as directors of Theright Investments (Pvt) Ltd after misrepresenting to the registrar of companies that
Watyoka and Muponda had resigned.
The accused persons went on to fraudulently sell the company’s property in Belgravia to a company named Kunzekwayedza
(Pvt) Ltd for $6 625 000, which was way below the market value of the property.
The complainants later discovered the offence and reported the matter to the Chief Registrar of Deeds and Companies who
instituted internal investigations.
The businessmen reported the case to the police, leading to the arrest of the accused person.
The total value of the potential prejudice is US$1,5 million.
Online Reporter