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Mpilo Mathuthu & His Firm Kudamp Investments Face Fraud Charges Over Unlawful Sale of Stands Amounting to US$28,000

Mpilo Mathuthu & His Firm Kudamp Investments Face Fraud Charges Over Unlawful Sale of Stands Amounting to US$28,000

A company director, Mpilo Mathuthu, and his firm, Kudamp Investments, were brought before the Harare Magistrates Courts, facing accusations of defrauding a real estate company, High Range Resources Pvt Ltd, of US$28,000 through the unlawful sale of residential stands.

Mathuthu, aged 29, trading as Future Properties, is the second accused party, while Kudamp Investments, represented by Mpilo Mathuthu, is the first accused party. The charges include fraud, and Mathuthu appeared before Harare Magistrate Mr. Dennis Mangosi. He was placed under remand until a bail application is made.

The complaint, represented by Dunia Shahari, alleges that Mathuthu approached Shahari in June 2023, seeking permission to market residential stands named Victoria Range in Masvingo, Makonde Heights in Chinhoyi, and Boronica Chiedza Park in Manyame-Beatrice.

Entrusted with the marketing role, Mathuthu was expected to direct clients to the complainant in exchange for a five percent commission. However, the State claims that Mathuthu, using the business name Kudamp Investments, went beyond the marketing directive and began selling the stands directly to customers.

Under the guise of facilitating monthly installment payments, Mathuthu allegedly convinced customers to make payments through him. The complainant discovered the discrepancy when a customer named Chinamasa, who responded to one of Mathuthu’s advertisements, requested a sale agreement. Chinamasa submitted receipts issued in Kudamp Investments’ name as evidence of payment.

Upon investigation, it was revealed that Mathuthu had sold 31 residential stands in Boronia Chiedza Park, accumulating US$28,722 in monthly payments. Evidence retrieved from Mathuthu’s office included receipt books and files detailing the offer and acceptance of the purchases.

 

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