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2 Harare company directors up for property fraud
3 hrs ago |
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Two directors of Prime Homes Pvt Ltd have appeared in court facing fraud charges over allegations that they attempted to sell company property worth US$2 million using a forged board resolution.
Gerald Shupikai Mudzonga (52) and Patricia Taonesa (48) appeared before regional magistrate Jessie Kufa, where they were granted free bail pending further proceedings.
The State alleges that the pair defrauded the company and fellow directors by fraudulently placing Prime Homes Pvt Ltd under liquidation in order to facilitate the sale of a valuable company asset.
According to prosecutors, Prime Homes purchased a 14.1449-hectare stand in Marlborough in 2025, which was registered under Deed of Transfer No. 5994/83.
The State alleges that in April the accused created a forged board resolution bearing the purported signatures of fellow directors and backdated the document to 16 July 2024, falsely indicating that the company's board had resolved to place the business under liquidation.
Using the allegedly forged resolution, the pair is accused of applying to the Master of the High Court to have Prime Homes placed under liquidation on the grounds of mounting debts.
Following the application, the Master referred the matter to the High Court, which appointed Oliver Masomera of Obraum Trust Company Pvt Ltd as the provisional liquidator of Prime Homes.
The court heard that Masomera, acting through Obraum Trust Company Pvt Ltd, subsequently engaged several estate agents to identify potential buyers for the company's assets.
Prosecutors allege that the company's other directors later discovered that the Marlborough property was being sold without their knowledge or approval and reported the matter to the police.
By that stage, the stand had allegedly already been sold to Veromix for US$1.2 million, with a US$600,000 deposit reportedly having been paid. The balance was allegedly due upon registration of the deed of transfer and payment of capital gains tax.
The State contends that the actions of the accused exposed Prime Homes Pvt Ltd to an actual prejudice of US$2 million.
The matter is set to continue before the courts.
Gerald Shupikai Mudzonga (52) and Patricia Taonesa (48) appeared before regional magistrate Jessie Kufa, where they were granted free bail pending further proceedings.
The State alleges that the pair defrauded the company and fellow directors by fraudulently placing Prime Homes Pvt Ltd under liquidation in order to facilitate the sale of a valuable company asset.
According to prosecutors, Prime Homes purchased a 14.1449-hectare stand in Marlborough in 2025, which was registered under Deed of Transfer No. 5994/83.
The State alleges that in April the accused created a forged board resolution bearing the purported signatures of fellow directors and backdated the document to 16 July 2024, falsely indicating that the company's board had resolved to place the business under liquidation.
Using the allegedly forged resolution, the pair is accused of applying to the Master of the High Court to have Prime Homes placed under liquidation on the grounds of mounting debts.
Following the application, the Master referred the matter to the High Court, which appointed Oliver Masomera of Obraum Trust Company Pvt Ltd as the provisional liquidator of Prime Homes.
The court heard that Masomera, acting through Obraum Trust Company Pvt Ltd, subsequently engaged several estate agents to identify potential buyers for the company's assets.
Prosecutors allege that the company's other directors later discovered that the Marlborough property was being sold without their knowledge or approval and reported the matter to the police.
By that stage, the stand had allegedly already been sold to Veromix for US$1.2 million, with a US$600,000 deposit reportedly having been paid. The balance was allegedly due upon registration of the deed of transfer and payment of capital gains tax.
The State contends that the actions of the accused exposed Prime Homes Pvt Ltd to an actual prejudice of US$2 million.
The matter is set to continue before the courts.
Source - newsday
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