Sengezo Tshabangu, Welshman Ncube in US$400k Scam

By A Correspondent- Top Citizens Coalition for Change leaders , Sengezo Tshabangu and Welshman Ncube, have dragged to the courts over US$400 000 belonging to William Trust following the sale of three properties in Bulawayo.

Two of the properties were reportedly sold to the Seventh-Day Adventist Church (SDA), while the third was sold to CCC interim secretary-general, Mr Sengezo Tshabangu.

Ncube acted as the conveyancer in all three transactions.

Administrators of the William Trust fund, which owned the properties, have since filed an urgent chamber application at the Bulawayo High Court seeking an interdict to halt the transfer of the properties to the new owners.

According to court papers, the first property, Lot 1 of 11A of Matsheumhlope, measuring 5 323 square metres, was sold for US$260 000, with the agreement signed by city lawyer, Mr Kucaca Phulu, on behalf of Estrier (Pvt) Ltd.

An additional US$32 000 was payable to cover commissions, transfer fees and related costs.

The second property, being the remainder of Lot 11A of Matsheumhlope, was sold to the SDA Church for US$250 000.

The sale agreement stipulated that the value-added tax amounting to US$37 000 would be shared between the seller and the purchaser in a 55:45 ratio.

The third property — the remainder of Lot 3 of Lot 11A, measuring 8 670 square metres — was valued at US$140 000, with VAT payable by the purchaser.

Advertisement

In their urgent application, the trustees submitted that the combined value of the three properties is close to US$700 000 and contend that Prof Ncube is required to account for about US$400 000, alleging that only partial amounts were remitted to the trust in instalments.