|Man charged with US$424 000 fraud|
|Tuesday, 08 May 2012 00:15|
A suspected fraudster who allegedly swindled a businessman of nearly half a million dollars in shady investment deals has appeared in court charged with fraud.
Masimba Musoni (45) was not formally charged when he appeared before Harare magistrate Mr Don Ndirowei who remanded him in custody to today for bail ruling.
Prosecutor Ellaine Mokora alleges that in April 2010, Musoni met the businessman Yaaqov Kobi Avisar in Harare and misrepresented to him that he had a gold mine in Zimbabwe and was trading in gold and copper in the DRC adding that he was looking for a business partner.
The complainant, it is alleged, verbally agreed to enter into a partnership with Musoni and injected US$48 000 as capital.
The money was allegedly deposited in Musoni’s Standard Charted Account held by the Borrowdale Branch.
On July 7, 2010 Musoni is alleged to have told the businessman that their joint venture had realised US$84 000 profit and he was entitled of a share of US$42 000.
The State says Musoni knew that he had done no business and the complainant suffered a prejudice of US$48 000.
On July 25 the same year, the State says Musoni in the company of his accomplice Kingston Munyarara (still at large), misrepresented to Mr Avisar that he had managed to secure a business deal to purchase coal from Hwange Colliery and supply it to Somika Company in DRC.
Munyarara allegedly told the businessman that he had some good connections in Hwange and could negotiate a good purchase price.
As a result the complainant using his KA Trade and Services ABSA accounts held in Johannesburg, South Africa transferred US$180 000 into Munyarara’s FNB account. To convince the complainant Munyarara gave him title deeds of a Borrowdale Brooke as collateral.
The State alleges that Munyarara had fraudulently obtained the property from Leonard Keeling.
Munyarara is alleged to have pocketed the money prejudicing the complainant of US$180 000.
In September the same Mr Avisar was also made to inject US$100 000 after the two misrepresented that it was his contribution for the purchase of a copper processing plant in DRC.
On September 24 the businessman was swindled a further U$2 999, which the pair lied it was for the purchase of a company laptop and iPad.
In November 2010 the complainant realised that he had been duped and tried to contact the pair to recover his money but his efforts were fruitless prompting him to make a report that led to Musoni’s arrest.
As a result the complainant suffered an actual prejudice of US$424 995.