HARARE businessman Stephen Margolis was brought to court on theft of trust property charges after allegedly disposing of a client’s car that he held as surety over a debt.
Margolis, 68, who owns Stephen Margolis Resort, appeared before Harare magistrate Yeukai Dzuda and was remanded to February 18 on free bail pending finalisation of investigations.
The complainant is Mapandu Farai Moline, 39, of Glen Norah in Harare.
Prosecutor Tungamirai Muganhiri alleged that in February 2016, Mapandu planned a wedding at Stephen Margolis Resort.
She allegedly agreed on a payment plan with Margolis and made an initial payment of $1 100 with the balance to be paid within six weeks. Mapandu did not indicate the balance she owed to Margolis in court.
The court heard Mapandu then gave Margolis a Honda Fit as surety that she would clear the balance.
It is alleged that Mapandu went to Margolis’ offices after six weeks had lapsed intending to settle the balance, but was turned away because he was out of the country.
She later returned to the offices and was shown an agreement of sale for her Honda Fit. According to Mapandu, Margolis sold her car without engaging her. The total value lost is $4 200 and nothing was recovered.