Rédaction Africa Links 24 with Zimeye
Published on 2024-03-28 08:17:35
In a shocking revelation that has sent shockwaves through the real estate sector, businessman Elliot Mharadze, 42, from Bulawayo’s Malindela suburb, found himself in hot water as he faced the legal ramifications of his alleged fraudulent activities. As the director of Exceed Construction, Mharadze made a court appearance before Bulawayo Magistrate Mr. Joseph Mabeza on charges of defrauding 19 individuals of more than $50,000 through deceptive housing deals. This court session, which took place yesterday, has once again brought to light the prevalence of fraud in the real estate industry.
After evading capture for five years, Mharadze is now facing 10 counts of fraud and has been remanded in custody pending a bail hearing scheduled for today. Prosecutor Ms. Siphiwe Mhlanga highlighted the deceptive practices Mharadze allegedly used to deceive his victims, emphasizing the importance of vigilance when entering into property transactions.
During the court proceedings, Ms. Mhlanga recounted the story of Mr. Butholezwe Dube, who in 2018 paid a $13,000 deposit for a home that never materialized. It was later discovered that the stand had been sold under a different name, exposing the systematic approach Mharadze took to defraud his clients. From selling non-existent stands to promising homes in various suburbs across Bulawayo, Mharadze’s fraudulent activities extended to embezzling $47,925 and R953,000 from his victims, leaving behind shattered dreams of homeownership.
With legal representation provided by Mr. Goodluck Katanaire from Mutuso, Taruvinga, and Mhiribidi Attorneys, Mharadze faces the daunting task of defending himself against the serious allegations of deceit and breach of trust.
In a related development, Patricia Mutanowa, a 33-year-old woman from Harare, appeared before the same magistrate on charges of theft of trust funds. Accused of pretending to be an administrator for the non-government organization Esteemed Business Women Zimbabwe, Mutanowa allegedly defrauded multiple individuals of $1,862 through deceptive event organizing schemes.
These cases serve as a cautionary tale regarding the risks and pitfalls within Zimbabwe’s property and charitable sectors, underscoring the crucial need for diligence and transparency in all transactions. As the legal proceedings continue to unfold, they highlight the importance of accountability and adherence to ethical standards in the realms of business and charity.
Ultimately, Mharadze’s case sheds light on the importance of upholding integrity and honesty in all dealings, whether in the real estate sector or charitable organizations. It serves as a reminder for individuals to exercise caution and due diligence when engaging in financial transactions, to protect themselves from falling victim to fraudulent schemes.
Read the original article on The Zimbabwe Eye
