Businessman Frank Buyanga who made headlines after importing multi-million dollar Bugatti Veyron super car in trouble


THE case in which businessman Frank Buyanga fraudulently sold a Harare businessman’s Mabelreign house after being given the title deeds as loan surety was last week postponed to tomorrow for continuation of trial.

Although Buyanga was not charged, his property manager Bishop Jeche (43) and the latter’s firm East Rivet Investments are facing perjury charges after claiming that they bought the house from Buyanga at a cost of $35 000.

Jeche and his company appeared before magistrate Hosea Mujaya also being charged with money laundering.

The complainant is the State represented by Stephen Leonard Nyoka.

Nyoka had initially told court that Buyanga was hiding behind Jeche and said he must be brought to court for the case.

But Jeche denied allegations that Buyanga owned East Rivet Investments.

He even produced an exhibit of the agreement of sale for the house signed by Nyoka and himself.

Allegations are that sometime in August 2009, Nyoka entered into a loan agreement of $19 000 with Buyanga’s company, Orton’s Drift Properties. The terms of the loan were that an interest of 10% per month would be paid together with the capital within three months.

It is alleged Buyanga’s company was not registered as a money lender and the loan agreement was to be concealed by disguising it through a simulated agreement of sale of Nyoka’s house number 6 Danbury Avenue, Mabelreign in Harare.

Nyoka was made to sign a power of attorney to pass transfer; a declaration as seller and acknowledgement of receipt of the $19 000 and he then tendered his title deeds as security for the loan.

It is alleged Nyoka was made to believe that the signed documents were for securing the loan only and this arrangement happened to many people who later reported cases of fraud against Buyanga.

The State alleges the power of attorney signed by Nyoka had initially been given to lawyers Stewart Nyamushaya and Farai Muzuva, but was allegedly fraudulently altered to appear as though it had been given by Shakespeare Karuwa.

It is alleged that a forged capital gains clearance certification and declaration by seller were then used to purport that Nyoka had sold the house for $19 000.

In a bid to conceal the alleged offence, Jeche’s company was roped in to facilitate transfer of the property from Buyanga’s company as if East Rivet Investments had purchased it at $35 000.

It was alleged that Jeche lied under oath by stating that he was the lawful registered owner of Nyoka’s house and the case is still pending at the Harare Civil Court.

The State alleges Nyoka lost his house worth $130 000.

Buyanga made headlines last week after he imported a multi-million 2009 Bugatti Veyron Fbg Hermes edition super car. The cost to Bugatti on the manufacture of the Veyron was €4,62 million according to their factors.

– NewsDay

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