A BUDIRIRO man, William Tsakatsa, yesterday appeared at the Harare Magistrates’ Court charged with swindling CFI Holdings Limited of $18,7 million after selling the company’s stands to prospective homeseekers.
BY VICTORIA MTOMBA
Tsakatsa is alleged to have misrepresentedto the residents settled at Lot A of Rest Crest Breeders estate between November last year and June this year, that he was the owner of the estate.
Rest Crest Breeders is owned by listed stock exchange entity CFI Holdings.
“Acting upon the misrepresentation, the desperate homeseekers paid di fferent amounts to the accused (Tsakatsa) who then allocated them stands at the estate without the consent of the owner, thereby causing actual prejudice of $18,7 million.
The land owner then led a police report,” part of the court papers read.
Although the State opposed bail, magistrate Francis Mapfumo ordered Tsakatsa to deposit $1 000 bail.
Mapfumo also ordered Tsakatsa to reside at his given address, surrender his passport and to report twice a week at his nearest police station.
