News Column

Mutodi Wants Bank Account Unfrozen

May 7, 2014

Tendai Rupapa



National Housing Delivery Trust (NHDT) founder, Energy Mutodi, accused of fleecing US$588 000 from desperate home seekers, yesterday made an application to have his company's bank account unfrozen.

Mutodi and the company's trastee Boniface Chikono, are both charged with fraud.

NHDT is located at NSSA building along Second Street.

Through his lawyers, Mr Charles Chinyama, Mr Freddy Machokoto and Mr Ray Tsvakwi, Mutodi submitted that the Trust acquired several residential stands from Pinnacle holdings represented by Dr Phillip Chiyangwa for the sum of US$3 250 000.

Mutodi argued that the Trust only managed to pay US$100 000 deposit to Pinnacle holdings but was now failing to fulfill the terms and conditions of the agreement since it could not access the funds hence was now in arrears of US$435 000.

Mr Chinyama said, "Your worship the account that was sought to be frozen was the one belonging to Mutodi not NHDT.

"Wrong information was placed before the magistrate who later on granted the order. That account belongs to NHDT and had that information placed before the court, surely a different order would have been passed. It is only fair and just for this court to undo its own order and that the account starts operating with immediate effect without an hindrances."

He added, "Pinnacle wrote a letter threatening to cancel the agreement and forfeiting the US$100 000 much to the prejudice of the subscribers of the trust. The Trust is also owing another company in Masvingo a total of US$135 000. The Trust also needs funds to pay for legal fees."

Mr Chinyama Said that Chiyangwa who was in attendance was willing to testify to the effect that NHDT owed him some money.

Prosecutor Mr Michael Reza, said that the defence team made a different application from the one they intended to make.

"Your worship I am shocked by the conduct of my learned brothers in court, the application that they told me they were going to make is completely different from the one they have made hence I need time to prepare for my response," he said.

Magistrate Mr Vakayi Chikwekwe, remanded the matter to today to allow the State to respond to the application.

Mr Reza alleged that on the formation of NHDT, Chikono became the founding member.

A Kingdom bank account 49034067 was opened and civil servants paid through SSB while other people paid cash and some were given allocation agreements, it is alleged. US$588 787 was paid into the account and the accused persons allegedly converted the money to their personal use.


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Source: AllAfrica