SA based fugitive loan shark Frank Buyanga resurfaces

FUGITIVE South Africa-based Zimbabwean loan shark, Frank Buyanga, made a brief appearance in Harare on Tuesday this week where he privately met over 100 property owners who lost their houses in a suspected shady money-lending scheme run by his company, Hamilton Foundation.

Buyanga's lawyer Mambo Sasa yesterday confirmed that his client met his alleged victims in the capital, but declined to give further details.

"Yes, I can confirm the meetings took place, but unfortunately I am duty-bound not to discuss client issues with third parties," said Sasa.

Sources said the meetings were held at the Attorney-General (AG)'s Office in Harare on Tuesday in the presence of Deputy Attorney General (Civil) Florence Ziyambi and Chief Law Officer Chris Mutangadura, with a view to strike an out-of-court deal.

However, both Ziyambi and Mutangadura declined to comment over the matter.

Several property owners, mostly Harare residents, allegedly had their properties sold by Buyanga's firm after they failed to repay various amounts of loans advanced to them. It later emerged that Hamilton Foundation was not a licenced money lender and some of the victims claimed that Buyanga sold their properties after they had already paid off their debts.

Buyanga fled the country two years ago after some of the alleged victims took him to court over breach of contract. He was subsequently placed on the regional Interpol list of fugitives.

However, a well-placed source who attended the meeting told NewsDay that the parties failed to reach an out-of-court-settlement after the alleged loan shark insisted his business transactions were above board.

"The major complication arose on properties he had already sold. The third parties are saying they have to be reimbursed plus interest accrued and neither party is prepared to meet the costs," said the source.

Asked on why Buyanga, who had been placed on the Interpol wanted list, was not been arrested on arrival in the country, a senior official at the Attorney-General's Office who requested anonymity said the loan shark could not be arrested as he had voluntarily handed himself to the law enforcement agents.

Said one of Buyanga's alleged victims: "There were about 100 of us who met Buyanga on Tuesday at the AG's Office. What irks us most is that he is not yielding, insisting that he had the right to sell our properties even though he is not a registered money lender."

In his founding affidavit, investigating officer Chief Superintendent Patrick Majuta accused Buyanga of engaging in a litany of criminal activities.

"I have read all statements by concerned witnesses and complainants and have satisfied myself that the 1st and 2nd respondents (Buyanga and his company) employed the modus operandi of taking advantage of the economic hardships in Zimbabwe at the time of commission of the . . . offences to do (a) grand plan calculated to defraud the complainants of their immovable properties whilst evading payment of income tax, capital gains tax, contravening money lending regulations and using non-official documents, fraud and money laundering," said Majuta.

The flamboyant Buyanga, famed for his lavish lifestyle which includes driving state-of-the-art latest vehicles, has previously argued that he was being persecuted for suing Public Service minister Nicholas Goche for defaulting on a $70 000 loan advanced to him.

It is believed that Buyanga would lend people amounts ranging between $2 000 and $70 000, on condition that those who borrowed the money surrendered title deeds of their fixed properties and other sureties, including vehicles. Several people were allegedly made to sign agreement of sale documents giving Hamilton Foundation powers of attorney and eviction which were to be used in the event that they failed to settle their debts.