News / National
Directors accused of stealing US$1,8m mining gear from Lupepe
1 hr ago |
93 Views
Two Bulawayo-based company directors are expected to appear in court tomorrow facing charges of stealing mining equipment valued at US$1,808,829 belonging to businessman Delma Lupepe.
The complainant, Lupepe, represents Ilasha Private Limited, a company specialising in mining.
According to the State, in 2017, Lupepe applied for a loan of US$1,808,829 from Fidelity Printers and Refiners (Pvt) Ltd to purchase mining equipment. Following company policy, the loan was to be disbursed directly to the supplier selected by the applicant — in this case, the accused directors of Yatakala Trading (Pvt) Ltd, trading as Viking Hardware in Bulawayo.
The accused, identified as Shlomo Josef Lepar and Joshua Reuvayn Lepar, agreed to supply the mining equipment and consumables at the stated amount. Fidelity Printers deposited the loan into Yatakala Trading's corporate bank account.
The procurement process was initially underway, and on November 9, 2017, the accused informed the complainant that the equipment was ready for collection. At this point, a dispute arose over the validity of the sales contract.
From February 7, 2018, the State alleges that the accused began preventing the complainant from collecting the equipment, demanding exorbitant storage fees. On December 4, 2018, the accused initiated interpleader proceedings against the complainant and Fidelity Printers, claiming that although they were in possession of the equipment, Yatakala Trading had no interest in it. These proceedings were later withdrawn.
The prosecution further alleges that the accused sought to permanently deprive the complainant of the equipment, cancelling the sales contract via a letter dated October 31, 2019, sent to the complainant's lawyers, Mashayamombe and Company Attorneys.
On November 5, 2020, the accused allegedly transferred ZWL$1,808,829 — the Zimbabwean dollar equivalent of the purchase price — into the trust account of the complainant's lawyers without consent. The mining equipment and consumables, valued at US$1,808,829, were reportedly disposed of without a court order, while a related High Court case (HC 1958/20) was still pending.
The two directors are set to appear in court tomorrow to answer the charges, as investigations into the alleged scheme continue.
The complainant, Lupepe, represents Ilasha Private Limited, a company specialising in mining.
According to the State, in 2017, Lupepe applied for a loan of US$1,808,829 from Fidelity Printers and Refiners (Pvt) Ltd to purchase mining equipment. Following company policy, the loan was to be disbursed directly to the supplier selected by the applicant — in this case, the accused directors of Yatakala Trading (Pvt) Ltd, trading as Viking Hardware in Bulawayo.
The accused, identified as Shlomo Josef Lepar and Joshua Reuvayn Lepar, agreed to supply the mining equipment and consumables at the stated amount. Fidelity Printers deposited the loan into Yatakala Trading's corporate bank account.
From February 7, 2018, the State alleges that the accused began preventing the complainant from collecting the equipment, demanding exorbitant storage fees. On December 4, 2018, the accused initiated interpleader proceedings against the complainant and Fidelity Printers, claiming that although they were in possession of the equipment, Yatakala Trading had no interest in it. These proceedings were later withdrawn.
The prosecution further alleges that the accused sought to permanently deprive the complainant of the equipment, cancelling the sales contract via a letter dated October 31, 2019, sent to the complainant's lawyers, Mashayamombe and Company Attorneys.
On November 5, 2020, the accused allegedly transferred ZWL$1,808,829 — the Zimbabwean dollar equivalent of the purchase price — into the trust account of the complainant's lawyers without consent. The mining equipment and consumables, valued at US$1,808,829, were reportedly disposed of without a court order, while a related High Court case (HC 1958/20) was still pending.
The two directors are set to appear in court tomorrow to answer the charges, as investigations into the alleged scheme continue.
Source - Southern Eye
Join the discussion
Loading comments…
