News / National
Welshman Ncube in US$400k Trust funds storm
2 hrs ago |
193 Views
Welshman Ncube, lawyer and leader of the Citizens Coalition for Change (CCC), is under legal scrutiny amid allegations that he failed to fully account for approximately US$400,000 belonging to the William Trust following the sale of three Bulawayo properties.
Two of the properties were reportedly sold to the Seventh-Day Adventist Church (SDA), while the third was sold to CCC interim secretary-general, Sengezo Tshabangu, with Ncube acting as conveyancer in all transactions.
Administrators of the William Trust have filed an urgent chamber application at the Bulawayo High Court seeking an interdict to halt transfers of the properties to the new owners, citing unpaid portions of the purchase price. Court papers show that the first property, Lot 1 of 11A Matsheumhlope (5,323 m²), was sold for US$260,000, with an additional US$32,000 earmarked for commissions and fees. The second property, remainder of Lot 11A, was sold to the SDA for US$250,000, with US$37,000 in VAT shared 55:45 between seller and purchaser. The third property, remainder of Lot 3 of Lot 11A (8,670 m²), was valued at US$140,000, with VAT payable by the purchaser.
The trustees contend that the total value of the three properties approaches US$700,000 and assert that Ncube has only remitted partial amounts totaling about US$400,000 to the trust. They argue that allowing transfers to proceed without full payment would result in "undue prejudice" to the William Trust.
Prof Ncube has opposed the application, describing it as irregular and alleging it discloses no proper cause of action. He argued that the trustees should have invoked breach provisions in the agreements rather than seeking court intervention, and he claimed that the applicants were vague about the outstanding amounts. "The applicant concedes that it received some money, yet does not state how much was received… the applicant is being deliberately vague because it has no cause of action," Ncube said.
The High Court will continue deliberations on the matter on March 3.
Two of the properties were reportedly sold to the Seventh-Day Adventist Church (SDA), while the third was sold to CCC interim secretary-general, Sengezo Tshabangu, with Ncube acting as conveyancer in all transactions.
Administrators of the William Trust have filed an urgent chamber application at the Bulawayo High Court seeking an interdict to halt transfers of the properties to the new owners, citing unpaid portions of the purchase price. Court papers show that the first property, Lot 1 of 11A Matsheumhlope (5,323 m²), was sold for US$260,000, with an additional US$32,000 earmarked for commissions and fees. The second property, remainder of Lot 11A, was sold to the SDA for US$250,000, with US$37,000 in VAT shared 55:45 between seller and purchaser. The third property, remainder of Lot 3 of Lot 11A (8,670 m²), was valued at US$140,000, with VAT payable by the purchaser.
Prof Ncube has opposed the application, describing it as irregular and alleging it discloses no proper cause of action. He argued that the trustees should have invoked breach provisions in the agreements rather than seeking court intervention, and he claimed that the applicants were vague about the outstanding amounts. "The applicant concedes that it received some money, yet does not state how much was received… the applicant is being deliberately vague because it has no cause of action," Ncube said.
The High Court will continue deliberations on the matter on March 3.
Source - The Herald
Join the discussion
Loading comments…
