Real estate director in court

Court Correspondent A COMPANY and its director was yesterday brought before the Harare Magistrates Court after allegedly defrauding a real estate firm of US$28 000 through the illegal sale of residential stands. Kudamp Investments, represented by Mpilo Mathuthu, is the first accused party. Mathuthu (29) is the second accused party; he is a director of Kudamp Investments and trades as Future Properties. He was placed under arrest pending his bail application today after appearing before Harare magistrate Mr. Dennis Mangosi, where he was accused of fraud. According to the State, Mathuthu approached High Range Resources (Pvt) Ltd in June of last year, through Dunia Shahari, to request a mandate to market residential stands in Victoria Range, Masvingo, Makonde Heights, and Boronica Chiedza Park in Manyame.With the mandate to market, Mathuthu was to introduce clients to High Range Resources in exchange for a five percent commission on transactions that were successful. After seeing the ads, the gullible customers contacted Mathuthu in hopes of securing these offers. The court was informed that on Tuesday of last week, a person going by the name Chinamasa approached High Range in order to request a sale agreement. As evidence of payment, Chinamasa submitted the receipts that Kudamp Investments had issued. At this point, High Range discovered that Kudamp was selling residential stands in violation of the marketing-only directive.Mathuthu made around US$28,722 in profit by selling 31 residential stands in Boronia Chiedza Park, according to the early investigations. From Mathuthu's office, evidence was retrieved in the form of receipt books and files containing his offer and acceptance of the purchase. By Dion Kajokoto Contact Us Editorial: dion@vaka.co.zw Advertising: advertising@vaka.co.zw : news@vaka.co.zw Whatsapp: +263787980064