News / Local
Geozing vehicles auctioned
09 Oct 2013 at 09:49hrs | Views
FIVE cars belonging to the director of Geozing Pawnbrokers, Mr George Zingane, are being auctioned by the Messenger of Court following a court application by a Bulawayo man, Mr David Mundandi.
Mr Mundandi applied to the court to dispose of the property to recover costs after Mr Zingane had allegedly failed to raise the money in unpaid rentals, electricity, water and utility bills at a house he was renting from the former.
Mr Zingane had until June been renting Mr Mundandi's house in Waterford suburb in Bulawayo before he abandoned it leaving behind the five cars parked in the yard.
Mr Mundandi then impounded the cars in a bid to recover his money and the costs incurred in the form of labour costs, security, storage and towing charges for the cars when he moved them to another place.
The cars, which have been placed under auction, include a Jaguar (Registration number: ACK 8250), Toyota Carina (ACD 3657), Hyundai Excel (AAV 6573), BMW (AAL 3087) and a Mercedes Benz commuter omnibus (AAP 5273).
According to a notice by the Messenger of Court placed in the local Press yesterday, Mr Mundandi is the plaintiff while Mr Zingane has been cited as the defendant.
The vehicles are being kept at CIPF Complex along Khami Road in the industrial area of Bulawayo.
Mr Mundandi is also one of the clients who were allegedly swindled of their money. He was allegedly duped of $1 000 under the pyramid scheme.
Mr Zingane would through his pawn broking company allegedly invite people to deposit their money promising to pay 30 percent interest per month.
Under the scheme, Mr Zingane would draw a contract form with his alleged clients where they would provide their identity details and the amount invested.
More than 4 000 investors were reportedly duped of their money.
The clients, through their lawyers, had successfully separately obtained an interim relief from the magistrates' courts to attach movable assets to satisfy their claims according to what they had invested in Geozing Investment.
Geozing Pawnbrokers collapsed in April resulting in thousands of investors losing money invested under the scheme.
In April, Geozing clients pounced on the Waterford house and attached 14 vehicles in a bid to recover their money.
Mr Mundandi applied to the court to dispose of the property to recover costs after Mr Zingane had allegedly failed to raise the money in unpaid rentals, electricity, water and utility bills at a house he was renting from the former.
Mr Zingane had until June been renting Mr Mundandi's house in Waterford suburb in Bulawayo before he abandoned it leaving behind the five cars parked in the yard.
Mr Mundandi then impounded the cars in a bid to recover his money and the costs incurred in the form of labour costs, security, storage and towing charges for the cars when he moved them to another place.
The cars, which have been placed under auction, include a Jaguar (Registration number: ACK 8250), Toyota Carina (ACD 3657), Hyundai Excel (AAV 6573), BMW (AAL 3087) and a Mercedes Benz commuter omnibus (AAP 5273).
According to a notice by the Messenger of Court placed in the local Press yesterday, Mr Mundandi is the plaintiff while Mr Zingane has been cited as the defendant.
The vehicles are being kept at CIPF Complex along Khami Road in the industrial area of Bulawayo.
Mr Zingane would through his pawn broking company allegedly invite people to deposit their money promising to pay 30 percent interest per month.
Under the scheme, Mr Zingane would draw a contract form with his alleged clients where they would provide their identity details and the amount invested.
More than 4 000 investors were reportedly duped of their money.
The clients, through their lawyers, had successfully separately obtained an interim relief from the magistrates' courts to attach movable assets to satisfy their claims according to what they had invested in Geozing Investment.
Geozing Pawnbrokers collapsed in April resulting in thousands of investors losing money invested under the scheme.
In April, Geozing clients pounced on the Waterford house and attached 14 vehicles in a bid to recover their money.
Source - Byo24News
