THREE men reportedly lost more than US$50 000 in botched residential stand deals.
Decent Moyo, 34, of Marimba Flats lost US$20 124 to his workmate Kudakwashe Wachekwa after the latter misrepresented that he had a house which he listed as collateral security when he was given a loan by the former.
Kudakwashe had sold the house before he borrowed the money which he failed to pay back.
In another case, Brandon Chinduri, 27, of Chitungwiza lost US$17 000 to Paradzai Mupindiko of the same town after he purported to be the owner of a house number 17949 Unit A Chitungwiza and sold it to the complainant for cash.
Paradzai failed to produce relevant documents and Chinduri lodged a police report against him.
The third victim, Pedzisai Mudiwa, 32, of Hatfield lost US$13 000 to Givemore Muchimbidzofa of Westlea sometime in August.
Givemore sold a commercial stand to Pedzisai valued at US$57 000 and he paid deposit money in the sum of US$13000 in which lease agreement was availed.
Pedzisai later found that the commercial stand in question belongs to City of Harare Council.
Harare provincial police spokesperson Inspector Luckmore Chakanza confirmed the case saying the three accused persons are facing fraud charges.
“Police are investigating fraud cases where three men lost money in botched residential deals.
“We continue to urge people to verify authenticity of properties being sold and involve relevant authorities before making payments,” said Insp Chakanza.