JUST IN: Man jailed for duping investor of US$500k

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Fungai Lupande Bindura Bureau
A Bindura man who swindled a Singapore investor, Ramason Bupendra of mine machinery worth US$500 000 has been sentenced to an effective seven years in prison.

Fradreck Utsiwegota (38) was initially sentenced to 10 years in prison before Provincial magistrate Mr Tinashe Ndokera suspended three years on condition that in the next five years he does not commit a similar offence.

The anti-corruption court heard that On July 5, 2012 Utsiwegota and Bupendra registered Decade Mining (Pvt) Limited and both become directors. Bupendra left for Singapore in July 2013 and left Utsiwegota in charge of the company assets and day to day running of the business.

Utsiwegota continuously discouraged Bupendra to return to Zimbabwe saying the political situation was bad. He came back last year after President Mnangagwa won elections and found the mine deserted.