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Auxilia Katongomara Chronicle Reporter
SUSPENDED Bulawayo lawyer Sindiso Mazibisa yesterday appeared in court facing a charge of theft of trust money amounting to over $300,000.

Mazibisa, 37, of Highmount suburb appeared before senior regional magistrate Trynos Hutahwashe, who remanded the matter to August 25 for commencement of trial.

Prosecuting, Robin Mukura told the court that on February 8, 2013, Titus Ncube entered into an agreement with Henrietta Gugulethu Dube to purchase 36 percent of ordinary shares at Chakata Resources Zimbabwe (Private) Limited.

“The shares were valued at $400,000. The sale was facilitated by Mazibisa who was Dube’s agent. Mazibisa then drafted a memorandum of agreement in respect of the property.

The parties agreed that the purchase money would be deposited into Mazibisa’s Standard Chartered Bank Trust account pending finalisation of the sale,” Mukura told the court.

The court heard that on May 19, 2013, Titus Ncube made an electronic money transfer of $335,536,55 to Mazibisa’s Trust account, being deposit purchase money for the shares.

“During the period extending from May 19 2013, to June 17 2013, Mazibisa in violation of a trust agreement with Ncube then withdrew various amounts from the trust account and converted the cash to his own use, well knowing that the funds were held pending the finalisation of the sale of property,” the court was told.

Mukura said as a result the seller of the property, Dube then failed to successfully sell the property to the complainant resulting in Ncube withdrawing and demanding the deposited funds from Mazibisa.

“Mazibisa failed to hand over the money to Ncube on demand thereby depriving him permanently of his money amounting to $335,536,55,” Mukura told the court.

The state yesterday asked for more time before the trial could kick off to enable Mazibisa to have legal representation and for it to have its witnesses present.