Dealer sells vehicle held as col­lat­eral

A Harare car dealer has appeared in court in connection with a suspected theft of trust property case in which the managing director of Rockshade Car Rental (Pvt) Ltd allegedly lost a vehicle valued at US$200,000.

Chekufa Matsineyi appeared before Harare magistrate Ruth Moyo and was not asked to plead. He was granted US$100 bail.

The complainant in the matter is Brian Samupambadze, the managing director of Rockshade Car Rental (Pvt) Ltd.

According to allegations presented in court, the incident occurred in April last year when Samupambadze was at Chirundu Border Post handling customs clearance for imported buses. He reportedly encountered financial difficulties in paying Value Added Tax and storage charges.

Samupambadze is said to have approached Matsineyi for a short-term loan of US$4,900, which he intended to repay within three days.

Matsineyi allegedly agreed to provide the funds on condition that collateral was offered, and demanded US$1,500 in interest.

Samupambadze then handed over his Land Cruiser V8 (200 series), registration number AEK 6358, as security.

It is alleged that Matsineyi later sold the vehicle without the owner's consent and used the proceeds for personal benefit.

When Samupambadze returned from Chirundu after three days and attempted to repay the loan and recover his vehicle, he reportedly could not locate Matsineyi, prompting him to file a report with the police.

The matter led to Matsineyi's arrest and the eventual recovery of the vehicle.

The vehicle is valued at US$200,000.

The case is expected to proceed as investigations continue.