News

Chiyangwa Implicated In Chombo Shoddy Land Deals

Phillip-Chiyangwa
505Views

By Shorai Murwira

Chiyangwa-Chombo

Pinnacle Property Holdings owned by flamboyant businessman Phillip Chiyangwa has been implicated in the ex- Local Government and Public Works Minister Ignatius Chombo’s fraud and abuse of office case.

Chombo who was a minister in the late Former President Robert Mugabe’s cabinet who was arrested three years ago, is facing several counts of fraud.

He is also facing an abuse of office case in which he is alleged to have parcelled hundreds of residential stands without following the proper procedure when he was then serving as Local Government minister.

Among the allegations, Chombo instructed officers at Ministry of Local Government to sign a Deed of Settlement for Stoneridge Farm for Phillip Chiyangwa’s Pinnacle Holdings without Cabinet approval.

The Stoneridge Farm debacle resulted in at least 1 440 people losing residential stands to Pinnacle Property Holdings after they allegedly defaulted on payment in 2014.

Tenants were expected to pay amounts ranging between US$ 25 to US$150 over a period of 10 years.

Pinnacle Property Holdings then issued a statement on the re-sale of the stands following the evictions.
Some of the evicted people had built houses.

Stoneridge Farm, measuring 586 hectares, has been under contestation by Government which argued that Pinnacle Properties Limited would not cater for low-income earning citizens as it was profit-oriented.

Pinnacle Holdings contested the acquisition of Stoneridge Farm before making a u-turn in court this week, saying negotiations for compensation were going on with Government.

Robert Tapfumaneyi

1 Comment

  • 89915 333590What a exceptional viewpoint, nonetheless is just not produce every sence by any indicates discussing this mather. Just about any technique thanks and also i had try and discuss your post directly into delicius but it surely appears to be an problem inside your blogging is it possible you must recheck this. thank you just as before. 102875

Leave a Reply