HomeLocal NewsCouple (72) up for $3 million fraud

Couple (72) up for $3 million fraud

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A Harare couple, senior citizens, has been arrested and charged with $3 million fraud after being accused of clandestinely removing a business partner from the directorship of a joint company venture.

James and Sophie Ross, both aged 72, are alleged to have removed Charles Chombo, of Glendale, Harare from the directorship of one of Shawasha Properties and replaced him with their son, Hamis.

Allegations are that, the couple owned Gletwyn Farm (Pvt) Ltd and on November 1 2004, appointed Chombo and one Ozias Musamirapamwe as co-directors of the company.

It is alleged allotment of company shares was not done and Chombo was appointed chief executive officer of the farm.

Two years down the line a joint venture was agreed between Gletwyn Farm and a company called Antrax Holdings, leading to the formation of a joint venture called Shawasha Properties, but Chombo was not registered in that venture.

It is alleged the company was formed to develop residential stands under phase 2 at Gletwyn Farm, with the following composition: Gletwyn Farm 40%, Antrax Holdings 40%, Chombo 15%, one C Chinzou 3% and Musamirapamwe 2%.

Chombo was again appointed Shawasha Holdings chief executive officer and the joint venture ended in 2008 when the company became defunct.

It is alleged in March 2008, Chombo resigned as Shawasha Holdings chief executive officer, but remained one of the directors.

On March 22 last year, the couple is said to have held a shareholders’ general meeting where they resolved to remove Chombo from the CR14 and replace him with their son Hamis.

It is alleged Chombo was never informed of the developments that led to him being prejudiced of $3 million in dividends.

The matter was reported to the police. Yesterday, the couple appeared before regional magistrate Memory Chigwaza on summons.

They were remanded to next week on Thursday for trial.

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