A HARARE man is facing fraud charges after he allegedly sold a car he was given by a colleague as collateral security despite being paid the full amount owed to him.
Katiyo appeared before Harare magistrate Yeukai Dzuda yesterday and was remanded out of custody to January 27.
The State alleges that sometime last year Clive Nesara lent money amounting US$1 451 to Peacemaker Katiyo.
Nesara allegedly surrendered his car, a Mazda Demio, as collateral security until he had paid his debt.
The state further alleges that on November 2 that same year, the two met to discuss a payment plan with hopes of Nesara getting his car back.
Katiyo allegedly promised Nesara that if he paid at least US$1 300 he would give him back his car he was keeping as security.
Nesara reportedly paid the said amount in cash and Katiyo as confirmation of receiving the money wrote an affidavit and signed it.
However, after payment, the state alleges Nesara requested for his vehicle only to be told by Katiyo that he had already sold the vehicle.
The State alleges that Katiyo made a U-turn and told Nesara to pay the remaining US$151 if he wanted his car to which he complied and paid.
But Nesara never received the car.
He allegedly made more futile efforts to recover his car as Katiyo never honoured his word. This prompted Nesara to report the matter to the police.
To date, it is alleged Nesara neither recovered his car nor money.