News / National
Chiyangwa conned $48 million
11 Mar 2014 at 08:20hrs | Views
A 47- year-old man Monday appeared at the Harare Magistrates Court facing charges of prejudicing businessman Phillip Chiyangwa of $48 million in potential revenue through illegally selling residential stands belonging to the businessman.
Onious Muhoma of Stoneridge suburb in Waterfalls appeared before magistrate Tendai Mahwe who granted him $100 bail.
According to the state, Muhoma connived with other unknown accused persons to unlawfully and intentionally misrepresent to prospective residential stand buyers that the land, which is situated along a portion of Stoneridge area of Waterfalls suburb, does not belong to Chiyangwa's Pinnacle Property Holdings , but to the state.
Muhoma and his alleged accomplices mobilised all residents of Stoneridge not to pay for the stands which they were occupying to Pinnacle Properties, but instead pay the accused.
The state alleges that Muhoma and his accomplices told the prospective residential stand buyers that once they started making payments, proper documentation would be processed.
The state also alleged that the accused, using the same modus oparandi, sold residential stands in Police investigations revealed that Chiyangwa's Pinnacle Properties was prejudiced a total of $48 million in potential revenue.
Part of the bail conditions given to Muhoma were that he resides at his Waterfalls residential address, does not interfere with witnesses and should report to the police once every week.
Muhoma was remanded to March 28 pending trial.
Sharon Mashavira appeared for the state.
Meanwhile, almost 1 000 prospective property owners recently lost their stands in Stoneridge after Pinnacle Properties terminated their contracts for allegedly defaulting on payment on installments amounting to $3m.
Pinnacle Property Holdings group develops and manages a broad range of real estate properties that include residential, industrial, commercial properties, conventional hotels, boutique hotels and lodges.
Onious Muhoma of Stoneridge suburb in Waterfalls appeared before magistrate Tendai Mahwe who granted him $100 bail.
According to the state, Muhoma connived with other unknown accused persons to unlawfully and intentionally misrepresent to prospective residential stand buyers that the land, which is situated along a portion of Stoneridge area of Waterfalls suburb, does not belong to Chiyangwa's Pinnacle Property Holdings , but to the state.
Muhoma and his alleged accomplices mobilised all residents of Stoneridge not to pay for the stands which they were occupying to Pinnacle Properties, but instead pay the accused.
The state alleges that Muhoma and his accomplices told the prospective residential stand buyers that once they started making payments, proper documentation would be processed.
The state also alleged that the accused, using the same modus oparandi, sold residential stands in Police investigations revealed that Chiyangwa's Pinnacle Properties was prejudiced a total of $48 million in potential revenue.
Part of the bail conditions given to Muhoma were that he resides at his Waterfalls residential address, does not interfere with witnesses and should report to the police once every week.
Muhoma was remanded to March 28 pending trial.
Sharon Mashavira appeared for the state.
Meanwhile, almost 1 000 prospective property owners recently lost their stands in Stoneridge after Pinnacle Properties terminated their contracts for allegedly defaulting on payment on installments amounting to $3m.
Pinnacle Property Holdings group develops and manages a broad range of real estate properties that include residential, industrial, commercial properties, conventional hotels, boutique hotels and lodges.
Source - zimmail
