Katsimberis trial deferred

THE fraud trial of Harare property developer George Katsimberis on allegation of duping Pokugara Properties (Pvt) Limited of close to US$1 million in a joint venture to build cluster houses in Borrowdale failed to kick off yesterday as the magistrate was not available.

Prosecutors Michael Reza and Tafara Chirambira told the court that the presiding magistrate Letwin Rwodzi would only be able next week Tuesday.

Magistrate Themba Kuwanda then postponed the matter to July 14.

Two weeks ago, Katsimberis had his application for referral to Constitutional Court dismissed by Rwodzi who said the accused had approached the court with dirty hands.

The State alleges that on April 9, 2016, Katsimberis, through his company GK Investment, entered into an agreement with Pokugara Properties, represented by Simbarashe Kadye to consolidate six residential stands measuring 2 000 square metres for the purpose of constructing 21 cluster houses, which are single and double stories.

Katsimberis, through his company then misrepresented to his partner that he had the capacity to build the homes at a value of US$888 728, which was his contribution to the joint venture.

Upon signing the agreement, Katsimberis would deposit a bank guarantee or Old Mutual shares to the conveyancer as security, but never did.

It is alleged, after signing the agreement, Katsimberis failed to meet the deadline of September 2017 to build the said cluster houses.

He only partly finished one show house that was declared an illegal structure by the City of Harare and subsequently demolished.

Katsimberis further misrepresented the existence of other companies which he said would be part of the joint venture.

He also falsified the architectural plans, misrepresenting to the partner that they were approved by the City of Harare.

A report was made to the police, leading to his arrest.