adminMasvingo Correspondent
THE Masvingo money lending company, Paramount, continues in the woods as more of its property has been attached by the Deputy Sherriff.The company owned by Mr Honest Chatikobo, which allegedly duped a number of unsuspecting depositors, a majority of them civil servants, had its property attached after the affected individuals were granted an order for the attachment to recover their money.
Mr Chatikobo who also sold his college premises in town to Great Zimbabwe University had his two buses, a Mercedes Benz, a trailer and office equipment worth thousands of dollars attached.
Masvingo magistrate Ms Sibonginkosi Mkandla granted the order for attachment of the property on Thursday.
In her ruling Ms Mkandla said the company property should be attached and auctioned to repay the money owed to clients.
Chatikobo who was represented by Mr Isaac Muzenda of Muzenda and Partners Law Firm argued that the property did not belong to him but to a different legal entity, Paramount Capital (Pvt) Ltd, which however, turned to be a subsidiary of the money lending firm.
Chatikobo, his wife Mavis, a relative Army Chatikobo and Simon Simukai were dragged to court by Ms Thandiwe Dube who sought to be reimbursed $9 700, Mr Henry Vagere who is owed $4 000, Mr Artwell Chirabwa wanted $3 400 while another client, Mr Stephen Zvidzai is demanding $5 000.
The creditors’ lawyer, Mr Rodney Saratoga Makausi of Saratoga Makausi Law Firm successfully established that the claimant is a sister company to Paramount Holdings, where some depositors’ funds were channelled leading to the parent company’s failure to repay.
Mr James Nyamapfeni represented the State.
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