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By Judith Nyuke / Published on Wednesday, 11 Oct 2017 20:00 PM / No Comments / 5168 views

11 October


Dereck Zhanje (C) and Faith (L)

A BORROWDALE couple allegedly duped a woman of money amounting to US$500 000 in a botched residential stand deal.

Dereck Zhanje, 50, a manager at Econet (Borrowdale branch) and Faith , 35, were not asked to plead when they appeared before Harare magistrate Josephine Sande charged with fraud.

They were granted US$500 bail each and the matter was remanded to November 16.

The complainant in this matter is Sivern Family Trust being represented by Silvern Chisewe.

Allegations are that on June 17 2015, the couple bought a piece of land held under 4486/2015 and subsequently sub-divided it into three residential stands measuring 1 600 square meters each.

On July 13 the same year, the couple applied for a mortgage bond of US$140 000 from NMB bank and reportedly submitted title deeds of the peace of land as security.

On July 14, NMB Bank reportedly approved the application and registered the bond with the Registrar of Deeds.

The State further alleges that the couple went on to offer the said piece of land for sale.

In August 2015, Chisewe, got information to the effect that the couple was selling some properties in Harare.

She reportedly approached the couple and agreed to buy a residential stand for US$80 000.

On September 1, 2015, the couple is said to have compiled an agreement of sale in which they falsely indicated that the property was free from any mortgage bonds.

On September 2, Chisewe reportedly transferred US$20 000 into the couple’s NMB Bank account and later settled the outstanding balance during that same month.

The couple reportedly acknowledged a receipt for the money and promised to transfer the ownership of the residential stand into Chisewe’s name which caused her to erect a structure worth US$350 000.

On August 1 last year, Chisewe unknowingly sought to buy another piece of land in the same area from the couple and she was told it was valued US$70 000 and the existence of the mortgage bonds was not disclosed.

On the same day, Chisewe transferred US$25 000 into the couples’ bank account.

From thereon, it was reported that Chisewe made several follow ups with the couple over the issue of changing ownership of the two stands into her name but they were evasive.

She allegedly visited the Deeds Offices were she discovered the existence of mortgage bonds.

Chisewe reportedly engaged Dereck over the issue who confirmed the existence of bonds but enticed her into paying the outstanding balance of US$45 000 on the pretext that he was going to use the proceeds to settle the outstanding bonds payment.

Investigations have established that the couple have arrears of US$77 000 in the mortgage bond as such the property might be sold in recovery litigation by NMB Bank.


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