By Desire Tshuma
ZEXCOM Foundation Investment Fund Limited has been defrauded by its estate agent for nearly US$25 000 money which was supposed to be deposited into the ZEXCOM Bank accounts.
According to the chairman for ZEXCOM Mr Crispen Mashayamombe , he said the board hired services from Allan Chonzi to manage its property for an agreed five year contract.
“Between March and May 2021 , we engaged Mr Allan Chonzi as our estate agent to manage our commercial premises which are situated at 82 Rezende Street , Equity House in Harare Central Business District” explained Mr Mashayamombe. ” This was done through three phases which are Owner Management Instruction form executed on 25 March 2021 , Handover Takeover Certification done on 7 May 2021 and Property Management Agreement executed on 7 April and all the documents were attached as annexures Zexcom 1 to 3 respectively ” added Mr Mashayamombe.
The agreement which ZEXCOM board members and Mr Allan Chonzi was that he will manage Equity House which is owned by the war veterans foundation. The duties for the estate agent was to collect rentals , maintenance of Equity House water , plumbing, refurbishment of structures and repairs of electricity faults. Among other duties was to settle debts to service providers such as City of Harare, ZESA , security companies insurers and company lawyers.
According to the documents shown to this publication, the estate agent was entitled to a commission of 10% of all the money collected and earned from leasing of the building. All the cash received was supposed to be banked in ZEXCOM CBZ Bank Limited account but Mr Chonzi did not oblige , no any amount collected was deposited to ZEXCOM bank account.
“He misrepresented the amounts paid to ZEXCOM service providers and by that act ,he defrauded and prejudiced the foundation of at least US$2134.15 . He did not remit to ZEXCOM the security deposit paid by Ear and Lick Private Limited for its tenants in respect of the ground floor of Equity House. He failed to properly account for money spent on renovations and maintenance of the building “further explained Mashayamombe.
For breaching the agreement, ZEXCOM board have terminated the contract and have given the estate agent three months to wind his his business affairs and submit a detailed statement of account from the period of assumption of duty to date.
ZEXCOM board has further taken the issue to the Estate Agents Council for disciplinary action pending police report and they are demanding restitution for all the funds embezzled . Among the board members who requested the audit that exposed Mr Chonzi’s shinanigans was ZEXCOM board Director Mr Charles Rushwaya and Mrs Kumbirai Ruth Mhlandhla who is ZEXCOM finance director.
TOP PIC: ZEXCOM Estate Agent, Allan Chonzi Embezzles War Veterans’ Foundation Funds