BUSINESSMEN Satishbhai Patel, Mahomad in USD1.4 million fraud rap.

Harare- BUSINESSMAN Satishbhai Patel and his partner Ebrahim Mahomad have been dragged to court on allegations of fraud involving a property worth US$1,4 million.

Patel (60) and Mahomad (57) appeared before Harare Magistrate Marehwanazvo Gofa who released them on free bail since they were coming from home.

The matter was remanded to October 31 for trial.
The complainant is Meadow Sweet Investment Pvt Ltd represented by its director Nyasha Watyoka.

The State said sometime in 2002, Meadow Sweet Investment purchased a piece of land which had been developed to double story flats being stand number 3081 Salisbury Township of Salisbury Township land measuring 1170 square metres.
The property was bought from John Dimitriou Mallis and Myrsina Myrtoula Dimitriou Mallis and deed of transfer was done into Meadow Sweet Investments.

After purchasing the said property, complainant left it intending to renovate it later and change it into an office complex.
In 2004, all the directors of the company left the country hence there was no progress which followed.

Sometime in April 2011, and since the property had been lying idle, Patel and Mahomad acting in connivance hatched a plan to defraud Meadow Sweet Investment to sell off the property.

They went on to draft a special resolution purporting that Patel was one of the Directors in Meadow Sweet Investment and was appointed to sell the property on its behalf.

They went on to draft a power of attorney with Patel empowering one Cuthbert Chengeta [NFPK] to transfer the property into Zimbabwe Electricity Regulatory Authority.

The duo succeeded and eventually sold the property to ZERA for US$1 400 000-00 and it was duly transferred under deed number 2850/2011.
In 2023, one of the Directors of Meadow Sweet Investment, Dr Muchazoreka Richardson Nyamugama, came back intending to make developments on the property and he discovered that the property had been renovated and was already under use by ZERA.

It is the State case that Patel was never a director in Meadow Sweet Investment such that he would authorize the sell of the property.
Police investigations have shown that a ZIMRA capital gains tax certificate that was submitted to the Registrar of Deeds for the transfer of the property is not authentic and is not in their records.

Patel and Mohamad acted with no legal right and had no locus standi to act in the manner they did.