Foreigner swindled in $2,5 million mining joint venture

via Foreigner swindled in $2,5 million mining joint venture May 5, 2014 by Paidamoyo Muzulu

A HARARE businessman, Charles Chisango will on Wednesday appear before a Shurugwi magistrate facing charges of defrauding his foreign partners of mining equipment worth $2,5 million.

Chisango is said to have formed a joint venture chrome mining company Minemills with a Singaporean investor Frans Thormanhlen.

Thormahlen’s company, NJZ Resources registered in Hong Kong, in turn supplied the joint venture company with mining equipment on a hire purchase agreement.

But Thormanhlen filed charges of theft against Chisango after the latter allegedly refused to hand over the mining equipment to NJZ Resources when Minemills had failed to pay off the purchase price due to discontinued operations.

Chisango is also accused of holding on to three vehicles: a black Isuzu, a white Isuzu and a Lupo. He is also allegedly holding on to an assortment of heavy mining equipment.

According to court papers, Chisango is accused of having clandestinely kicked out the foreign investors and started disposing and hiring out the mining equipment to third parties after the joint venture collapsed due to chrome ore export ban.

Chisango is accused of having disposed of a 40 foot container for $2 000 to Charthigh Investments in December last year.

The ownership of the equipment which includes crushers, containers, compressors and three vehicles all valued at $2,5 million has raged in the courts since last year.

The Supreme Court in February this year dismissed Chisango’s claim to ownership of the equipment with costs.

Deputy Chief Justice Luke Malaba with Judges of Appeal Anne-Mary Gowora and Antonia Guvava ruled: “Whereupon, after reading the documents filed of record and hearing counsel by consent it is ordered that the appeal be and is hereby dismissed with costs.”

Before appealing to the Supreme Court, Chisango had earlier lost his case in the High Court where Justice Chinemembiri Bhunu in October 2009 ruled that: “Pending the final determination of this matter the respondents shall deliver all the machinery/equipment to the Deputy Sheriff of Zimbabwe, Harare within 48 hours for service of this order.”

Chihambakwe, Mutizwa and Partners represented NJZ Resources while Chisango and Minemills lawyers were Wintertons Legal Practitioners.

 

Tagged with:
Posted in the latest articles
13 comments on “Foreigner swindled in $2,5 million mining joint venture
  1. Clive Sutherland says:

    foreigners be aware, this is what indigenisation is all about, out right theft!

  2. Mlimo says:

    This is what happens when you invest in Zimbabwe no doubt he will pay the judge and get off scot free

  3. Chaka says:

    Yes, most foreigners r already aware! I wonder why a company wd invest in Zimbabwe.

  4. John Thomas says:

    Chissango apparently feels it is unfair to be treated like an adult

  5. zim reeper says:

    Chissango,mugabe apo , mugabe zanupf do not know any better. Thats how it is done right from the top to the bottom in zims.They are really confused why there is no FDI.

  6. Gomogranny says:

    Give me 51% now! The other 49% I will steal. Now go.
    This is how we do business in Zimbabwe.

  7. munzwa says:

    Ha Ha should do the indigenous cause a lot of good…when something is too good to be true ..it normally is!!!!

  8. Hwesah says:

    This is the real zimbabwean way of partnership investers be warned its like throwing your money and fortunes into the fire.

  9. Petal says:

    Does not come as a surprise deep down they still have the hatred for the murungus embedded in them if the investor is one TAKE YOUR BUSINESS ELSEWHERE !

  10. Hutu says:

    They try to copy the master of the cheating art Temba Mliswa. Stole, is very rich and is still very free.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>