Sundaymail Editor
Fidelis Munyoro
Online Reporter
Kuva Cash Private Limited and its director, Tendai James Saruchera, have been released from legal obligations after a court granted an application for refusal of remand in a US$286 000 fraud case linked to a failed property transaction.
Saruchera and Kuva Cash had faced charges of theft of trust property.
However, the court ruled that the prosecution lacked sufficient evidence to justify their continued detention or trial at this stage.
Refusal of remand does not equate to acquittal, but halts proceedings unless new evidence emerges.
The allegations stemmed from a property transaction involving Ms Paidamoyo Kuruneri, who believed she was purchasing a Borrowdale property for US$286 000, down from an initial asking price of US$320 000.
The deal was brokered through Kennan Properties, which allegedly advised that the seller required the funds to be transferred offshore.
Kuva Cash was purportedly recommended to facilitate this transfer, and Ms Kuruneri deposited US$286 000 with the company.
However, it was alleged that Kuva Cash failed to remit the funds to the seller, leading to the cancellation of the sale.
When the seller terminated the agreement, Ms Kuruneri sought a refund, but Kuva Cash allegedly failed to account for the funds, prompting criminal charges against Saruchera.
Initially granted bail of US$500 by Harare magistrate Ms Patricia Kamwanda, Saruchera is now entitled to recover the amount as the case is procedurally concluded unless the prosecution presents new evidence to reopen proceedings.
Online Reporter