News / Local
Ponzi scheme mastermind appears in court
11 Apr 2013 at 22:09hrs | Views
THE proprietor of Geozing Pawnbroking Company, George Zingani, yesterday appeared in court in Bulawayo under heavy police guard facing charges of fraud after 110 of his clients reported him to the police.
Zingani (49), of Number 4 Kingston Court, Famona, Bulawayo, who came to court flamboyantly dressed, is facing multiple counts of fraud where he is representing his company and also in his individual capacity as its director. He immediately applied for bail through his lawyer, Mr Vonani Majoko, of Majoko and Majoko Legal Practitioners and Bulawayo magistrate, Mr Crispen Mberewere, granted him $2 000 bail.
As part of bail conditions, Zingani was ordered not to dispose of any of his property whether movable or immovable, and if need be, he should do so in liaison with the police.
He was also ordered to surrender his travel documents to the Clerk of Courts, to report to the nearest police station twice a week on Mondays and Fridays and not to interfere with witnesses.
He will be back in court on 7 May.
The court first dealt with Zingani's other case where he is being charged with violating Section 5(10(b) of the Banking Act, Chapter 9:23, which he was charged with two weeks ago when one of his clients took him to court for fraud and the State altered the charge because there was no proof that he had misrepresented to anyone.
He will also appear in court on 7 May on the case.
Dozens of people who invested in Geozing thronged the magistrates courts housed at Tredgold Building in the morning and patiently waited outside the building after being told that Zingani would appear in court in the afternoon.
In the morning, Zingani was escorted by a few detectives from the Serious Fraud squad section but was quickly whisked away to a safe place within the building when it became apparent that his clients had already filled the court's corridors.
The police at the courts called for reinforcements and in the afternoon, he came under heavy police guard and there were more than 20 anti-riot police officers armed with batons who were controlling the crowd.
Zingani (49), of Number 4 Kingston Court, Famona, Bulawayo, who came to court flamboyantly dressed, is facing multiple counts of fraud where he is representing his company and also in his individual capacity as its director. He immediately applied for bail through his lawyer, Mr Vonani Majoko, of Majoko and Majoko Legal Practitioners and Bulawayo magistrate, Mr Crispen Mberewere, granted him $2 000 bail.
As part of bail conditions, Zingani was ordered not to dispose of any of his property whether movable or immovable, and if need be, he should do so in liaison with the police.
He was also ordered to surrender his travel documents to the Clerk of Courts, to report to the nearest police station twice a week on Mondays and Fridays and not to interfere with witnesses.
He will be back in court on 7 May.
He will also appear in court on 7 May on the case.
Dozens of people who invested in Geozing thronged the magistrates courts housed at Tredgold Building in the morning and patiently waited outside the building after being told that Zingani would appear in court in the afternoon.
In the morning, Zingani was escorted by a few detectives from the Serious Fraud squad section but was quickly whisked away to a safe place within the building when it became apparent that his clients had already filled the court's corridors.
The police at the courts called for reinforcements and in the afternoon, he came under heavy police guard and there were more than 20 anti-riot police officers armed with batons who were controlling the crowd.
Source - TC
