Kudamp Investments in court for residential stands...

Kudamp Investments in court for residential stands fraud

Michael Mashiri

Kudamp Investments, also trading as Future Properties and one of its directors, have been arraigned before the court accused of fraud.

Kudamp Investments T/A Future Properties and Mathuthu Mpilo, 29, of Budiriro Consortium, appeared before magistrate Dennis Mangosi accused of fraud.

He was ordered to appear in court tomorrow.

The complainant in this matter is High Range Resources Private Limited, represented by Dunia Shahari, residing at 42 Selous Colne Valley, Chisipite, Harare.

The State, through prosecutor Rufaro Chonzi, alleges that in June 2023, Mpilo approached High Range Resources Private Limited, seeking to market the company’s residential stands which are styled Boronica Chiedza Park in Manyame, Beatrice, Makonde Heights in Chinhoyi and Victoria Range in Masvingo.

It is alleged that Mpilo was allowed to market the stands and was supposed to refer clients to the Range Resources Private Limited and would get 5% commission.

The State alleges that Mpilo started marketing the stands using Kudamp Investments’ name stating that the clients would buy stands by paying money in monthly instalments through Mpilo.

The clients responded to the advertisements and approached Mpilo for payments.

On January 9, 2024, one Chinamasa went to High Range Resources’ office after responding to Mpilo’s advertisement.

The State alleges that he intended to have an agreement of sale with High Range Resources.

Chinamasa produced the receipts in the name of Kudamp Investments as proof of payment.

High Range Resources later realised that Kudamp Investments was selling residential stands contrary to the mandate of marketing only.

Investigations that were done revealed that Mpilo had sold thirty-one stands in Boronia Chiedza Park to witnesses who had made several monthly contributions amounting to US$28 722.

Exhibits of receipt books and files of offer and acceptance of purchase by Mpilo were recovered from his office completed by victims.

As a result, it is alleged that Mpilo and Kudamp Investments caused High Range Resources to lose US$28 722.

Mpilo was remanded in custody and was ordered to appear in court on January 16.