Bulawayo businessman Daka swindles Indian investor USD500k in botched mining deal
..... arrested, detained on Wednesday in Plumtree for illegal mining activities
CONTROVERSIAL Bulawayo businessman and alleged fraudster Mohamed Daka is in the eye of a storm following allegations that he swindled an Indian investor Jaymill Macchi in a botched mining deal, Express Mail Zim can reveal.
Daka’s woes mounted when he was arrested Thursday on a separate charge of illegal mining at Fools Mine located in Hope Fountain just outside Bulawayo.
He was apprehended and detained at Plumtree police station with his accomplice lawyer Dumisani Dube who was appointed the corporate rescue manager.
The reference humber is Plumtree D. R 01.09.24.
He is also out on bail for allegedly selling an excavator on July 10 2024, to one Mutare based miner Simba Dumbura for USD280 00 that he had leased from Rich Mark Zimbabwe.
On the swindling saga, Daka misrepresented to Macchi that he was the bona-fide owner of Fools Mine and he was paid USD 500 000.
The investor later discovered the con and instituted legal action and authorities are investigating the matter.
“Daka is a self appointed director of Fools Mine after illegally taking it over from Harare based businessman Mr Wang.
” He then forged a power of attorney masquerading as representative.
“Using that fake power of attorney, he applied for bankruptcy and the mine was put under corporate rescue yet he continued to mine there and sold some equipment.
” The fact is the mine was not broke but it is located on a game park and issuing of Special Grants at such places has temporarily been halted through a government directive,” said our source who is privy to the goings on.
Express Mail Zim understands that the mine was originally owned by the late former Chinese Ambassador to Zimbabwe, Shuixing Xu and registered as Sheng an Mining.
Upon his death,his son Xiaofei Xu took over operations but faced manipulation and threats from Daka, who was part of the miner’s management.
He is alleged to have coerced Xiaofei into making unjustified payments and claimed to be affiliated with CIO.
“Daka made an elaborate scheme to have Xiaofei deported to pave way for his illegal takeover.
” When he was deported that is when Daka faked the power of attorney and used this fake shareholding power and sold mine cars including an Amarok, two Honda Fits and other functional equipment.
“That is when he was arrested on July 17 2024 and was released on USD500 bail by Magistrate Mutiro.
” He was asked to remain at his Bradfield and to report to ZRP’s Vehicle Theft Squad twice a week, but now he is at it again violating bail conditions, ” revealed our source.
Daka is also accused of name dropping and posting pictures with influential individuals in politics and business circles.
