The property owner, however, was frustrated and terminated the deal after not receiving the money within the agreed time frame.

The chief executive of a local money transfer agency, Kuva Cash Private Limited, has appeared in the Harare Magistrates Court on charges of theft involving $286,000.

Tendai James Saruchera was on Monday released on $500 bail by Magistrate Patricia Kamwanda, who referred the matter to December 16.

The plaintiff, Paidamoyo Kuruneri, claims that earlier this year she hired Kuva Cash Private Limited to transfer $286,000 to the UK owner of a Borrowdale house she wanted to buy.

She allegedly paid the money on October 5 and was issued a receipt. Saruchera later allegedly converted the money for his own use instead of transferring it to the property owner.

The property owner, however, was frustrated and terminated the deal after not receiving the money within the agreed time frame.

Suspecting foul play, Kuruneri confronted staff at the cash transfer agency, demanding a refund, which led to Saruchera’s arrest.

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