Southchoice Investments in court for fraud involvi...

Southchoice Investments in court for fraud involving Highlands residential stand

Michael Mashiri

ZIM NOW CORRESPONDENT

Southchoice Investment Pvt Limited has been arraigned before the court in connection fraud of US$750 000.

Southchoice Investment Pvt Limited, represented by Elizabeth Simpson, Elizabeth Simpson, 53, of Avondale, and Cephas Masuka, 41, appeared before the Harare Magistrates’ Courts charged with fraud.

They were ordered to appear in court on June 5 for their routine remand.

The State alleges that sometime in July 2020, the complainant, who is based in China told his friend, Sun Jiabao, who is based in Zimbabwe, of his intention to invest in Zimbabwe.

The complainant was allegedly linked to Sun Peg, another Chinese national, who was in Zimbabwe at that time.

The complainant was told they were investment programmes under Terran Resource and Africa China Mining Private Limited and was being led by Peng.

He contacted Peng and was told that he could invest in mining and was promised huge interest rates and the complainant became interested in the deal.

The court was informed that the complainant later decided to purchase residential property in Zimbabwe and was told to pay US$750 000.

They allegedly went to Pam Golding Estate agents where Simpson is employed as an agent.

Simpson facilitated the purchase of number 6 Norman Road, Highlands, Harare and on August 1, 2020, and was registered in the complainant’s name.

The complainant later on learnt that Peng was arrested in Papua New Guinea for fraudulent cases involving the money he collected in China in the name of investment funds.

It is alleged that the complainant told his friend, Jiabao, to check for the status of his stand and was told that the property was no longer in his name.

The court heard that the complainant made investigations and discovered that on November 11, 2021, the three accused prepared a fraudulent special power of attorney which was claimed to have been signed by the complainant.

The power of attorney appointed Masuka to donate the property to Southchoice Investment Pvt Limited.

The court heard that because of the strength of the fraudulent power of attorney, complainant’s property was transferred to Southchoice on December 15, 2021, as a donation and was represented by Masuka by the virtue of the fraudulent power of attorney claimed to have been signed by the complainant.

As a result, a total value of US$750 000 was stolen.