A 44-YEAR-OLD man appeared at the Harare Magistrates’ Court yesterday, facing fraud allegations involving US$3 500 and was released on US$100 bail.
Tsikai Gwinyai allegedly misrepresented himself as an agent of Euro Exim Bank and duped a man seeking to secure a loan to import a tractor from China.
The court heard that sometime in July last year, the complainant, Takachengetwa Gambe, intended to secure a loan of about US$1 968 800 from a local financial institution to purchase a tractor.
Gambe was reportedly introduced to Gwinyai by Amadio Mude, who claimed Gwinyai was an agent of Euro Exim Bank, an international trade finance institution that assists companies in accessing big loans from local banks.
Prosecutors told the court that Gambe engaged Gwinyai to facilitate the loan process and was allegedly charged US$7 000 for processing paperwork and submitting an application to the local bank.
Gwinyai allegedly assured Gambe that the loan will be processed within six weeks once a down payment of US$3 500 had been made.
Acting on the misrepresentation, Gambe reportedly paid US$1 000 in July last year and Gwinyai signed an acknowledgement of receipt.
On July 18, Gambe allegedly made two more payments of US$1 000 and US$500, respectively. The final payment of US$1 000 was reportedly made on August 21, with another acknowledgement of receipt signed.
However, after the six-week period elapsed, Gwinyai allegedly became evasive and stopped answering Gambe’s calls.
As a result of the alleged misrepresentation, Gambe lost US$3 500 and nothing was recovered.
