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Yeukai Karengezeka
Court Correspondent
Kuva Cash Private Limited and its chief executive, Tendai James Saruchera, have been taken to court for allegedly defrauding a client of US$286 000 in a property deal that went sour.
The client, Paidamoyo Kuruneri, thought she was buying a property in Borrowdale, Harare, from Kennan Properties for US$286 000 after it was negotiated down from US$320 000.
Prosecutor Mr Rufaro Chonzi alleges that Kennan Properties told Kuruneri that the property owner wanted the money transferred offshore, and recommended Kuva Cash to facilitate the transfer.
Kuruneri paid US$286 000 to Kuva Cash, but instead of sending the money to the owner, Kuva Cash allegedly kept it for themselves.
When the property owner did not receive the payment, they terminated the contract through Kennan Properties. Kuruneri approached Kuva Cash for a refund, but they could not account for the money.
This led to Saruchera’s arrest, and he is now facing charges of theft of trust property.
Saruchera appeared before Harare Magistrate Ms Patricia Kamwanda and was granted $500 bail.
He is back in court on December 16 pending the finalisation of investigations.
The total amount lost is US$ 286,000, with no recovery so far.
Online Reporter