Buyanga embroiled in house scam

HARARE - Businessman Frank Buyanga has been embroiled in a $130 000 scam in which he allegedly sold a Harare man’s house after being given title deeds as loan surety.

However, Buyanga is not the one being charged for the fraud but a property manager, Bishop Jeche, 45, and his company for allegedly lying that they had become property owners after buying the house at $35 000 from Buyanga.

Jeche and his company East Rivet Investments Pvt Ltd are being charged with perjury, money laundering and are due to appear fraud before Harare magistrate Hosea Mujaya on September 13.

The complainant is the State represented by Stephen Leonard Nyoka.

Prosecutor Michael Reza alleged that sometime in August 2009 Nyoka entered a loan agreement of $19 000 with Buyanga and his company Orton’s Drift Properties.

The terms of the loan were that an interest of 10 percent per month would be paid together with the capital within three months.

However, since Buyanga’s company was not registered as money lenders the loan agreement was to be concealed by disguising it through a simulated agreement of sale of Nyoka’s house number 6 Danbury Avenue, Mabelreign in Harare.

The complainant was made to sign a power of attorney to pass transfer, a declaration as seller and acknowledgement of receipt of the $19 000.

It was alleged that Nyoka then tendered his title deeds as security of the loan.

According to State papers Nyoka was made to believe that the signed documents were for securing the loan only and this arrangement allegedly happened to many people who later reported cases of fraud against Buyanga.

The power of attorney signed by Nyoka had initially been given lawyers Stewat Nyamushaya or Farai Muzuva but was allegedly fraudulently altered to seem as though it had been given Shakespear Karuwa.

The court heard that a forged Capital Gains Clearance and declaration by seller were then used to purport that Nyoka had sold the house for $19 000.

In a bid to conceal the offence Jeche’s company was roped in to facilitate transfer of the property from Buyanga’s company purporting as though East Rivet Investments had purchased it at $35 000.

It was alleged that in another pending Civil Court Case involving this issue, Jeche lied under oath by stating that he was the lawful registered owner of Nyoka’s house.

Due to the misrepresentations Nyoka lost his house and was prejudiced $130 000.

Comments (1)

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vans - 30 August 2018

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