Bank sues Chiyangwa over $4 million loan

Phillip Chiyangwa Prominent businessman has been taken to court on allegations of failing to pay back a $4 million loan he got from financially-troubled Interfin Bank.

The summons, which were issued by the bank on Wednesday under case number HC7810/15 citing Pinnacle Properties Holding, Chiyangwa and Native Investment Africa as defendants were served by the Sheriff of the High Court through the bank's lawyer Antony Chagonda.

According to the summons, Chiyangwa owes the bank a total of $4 060 110, which includes a capital credit of $2 million plus interest of $2 million and bank charges amounting to $60 110.

The bank claims sometime in April 2011, it extended a credit facility of $2 million to Pinnacle Properties Holdings.