News / Regional
Botched deal, SA-based dealer on the run
21 Mar 2014 at 06:32hrs | Views
A WARRANT of arrest has been issued against a South African national involved in a botched $23 500 gold deal with three Zimbabweans after he skipped bail.
Stephen Ngwenya (31), who runs gold claims in Fort Rixon, allegedly defrauded Sithembile Moyo, Viana Ndlovu and Tendai Gwatirera after asking them to invest $23 500 in his business promising to repay plus an extra $5 000.
Ngwenya denied the fraud charge when he first appeared in court last week and told presiding magistrate Crispen Mberewere that he was willing to settle the arrears.
However, Ngwenya was nowhere to be seen during a scheduled appearance yesterday prompting Mberewere to issue a warrant of arrest against him.
His travel documents are still being held at the police station.
Ngwenya allegedly conned Moyo, Ndlovu and Gwatirera into injecting the money so he could buy 500 grammes of gold for sale in South Africa promising to return and reimburse them with a $5 000 top-up.
It is the State case that the three contributed $23 500 which they gave to Ngwenya through Moyo.
Ngwenya reportedly went to Fort Rixon where he bought the gold and indicated he was going to South Africa where he would sell the product and bring the cash within a week's time.
Ngwenya is alleged to have become evasive giving numerous excuses and failing to return the money within the agreed time.
He is alleged to have paid $2 000 after having been confronted by Moyo a year later. Ngwenya later on paid $2 500 on December 23 2012 and $1 500 upon his return to Zimbabwe on January 15 this year.
Stephen Ngwenya (31), who runs gold claims in Fort Rixon, allegedly defrauded Sithembile Moyo, Viana Ndlovu and Tendai Gwatirera after asking them to invest $23 500 in his business promising to repay plus an extra $5 000.
Ngwenya denied the fraud charge when he first appeared in court last week and told presiding magistrate Crispen Mberewere that he was willing to settle the arrears.
However, Ngwenya was nowhere to be seen during a scheduled appearance yesterday prompting Mberewere to issue a warrant of arrest against him.
His travel documents are still being held at the police station.
Ngwenya allegedly conned Moyo, Ndlovu and Gwatirera into injecting the money so he could buy 500 grammes of gold for sale in South Africa promising to return and reimburse them with a $5 000 top-up.
It is the State case that the three contributed $23 500 which they gave to Ngwenya through Moyo.
Ngwenya reportedly went to Fort Rixon where he bought the gold and indicated he was going to South Africa where he would sell the product and bring the cash within a week's time.
Ngwenya is alleged to have become evasive giving numerous excuses and failing to return the money within the agreed time.
He is alleged to have paid $2 000 after having been confronted by Moyo a year later. Ngwenya later on paid $2 500 on December 23 2012 and $1 500 upon his return to Zimbabwe on January 15 this year.
Source - Southern Eye
