Man sells collateral vehicle before loan period la...

Man sells collateral vehicle before loan period lapse

Michael Mashiri

A man who allegedly sold a car that was used as collateral before the loan period was over has appeared in court.

Tranos Taurai Muzanenhamo, 26, of Greenwood Park, Epworth, appeared before magistrate Stanford Mambanje at the Harare Magistrates' Courts charged with fraud.

He was remanded in custody.

The complainant in this matter is Patterson Nyakurukwa.

The State, through prosecutor Anesu Chirenje, alleges that sometime in April 2023, Nyakurukwa came across an advertisement in a vehicle sales Whatsapp group in which Muzanenhamo was offering loans and would hold motor vehicle and its registration book as collateral security.

Payment period was said to be 30 days with an interest of 18% on the premium amount.

Muzanenhamo claimed to be Shingi or Kurauone Mupadzi.

As a result the complainant got in touch with Muzanenhamo on Whatsapp, and on April 18, 2023, he met him and got US$ 1 000, as a loan from Muzanenhamo.

Muzanenhamo identified himself by producing a driver's licence in the name of Mupadzi, and in turn, Nyakurukwa surrendered his motor vehicle, a Toyota Axio and its registration book as per the terms of the loan.

He was supposed to pay back the loan on May 18, 2023.

It is alleged that on May 14, 2023, before the expiry of the 30-day loan period Muzanenhamo sold the car to one Godwin Dylan Ngungunyana in Gweru using false particulars, claiming to be Mupadzi, and went on to produce a fake driver’s licence in the name of Mupadze and his particulars, but bearing his face.

Muzanenhamo went on to receive the loan repayment and interests from Nyakurukwa within the stipulated period, well knowing that he had already fraudulently disposed the motor vehicle.

Investigations later led to the recovery of the car in Gweru, as well as the fake drivers licence that was used to commit the offence.
As a result, Mupadzi lost property worth US$6 000.