Police hunt for loan shark Frank Buyanga

Posted on Feb 12 2012 - 2:53pm by admin

By Itai Mazire

Zimbabwean police have issued an international warrant of arrest for flamboyant businessman Frank Buyanga, who reportedly fled the country last year after swindling people of more than US$4 million.

Flamboyant businessman and loan shark Frank Buyanga

Flamboyant businessman and loan shark Frank Buyanga

Buyanga was known for his extravagant lifestlye, often flaunting a collection of some of the world’s most expensive vehicles.

According to the police, Buyanga, who fled the country at the end of last year, was using an alias and was previously believed to be holed up in South Africa, but latest revelations were that he may be in Kenya. Police said they had since communicated with Interpol and forwarded a copy of his fingerprints.

Buyanga is said to have swindled over 500 property owners in Zimbabwe, among them politicians, musicians and businesspeople, through his money-lending company, Hamilton Finance.

It is believed that Buyanga would lend people varying amounts, ranging from US$2 000 to US$60 000, on condition that they surrendered title deeds to their properties and as well as other sureties, including vehicles.

Buyanga was known for his extravagant lifestlye, often flaunting a collection of some of the world's most expensive vehicles.

Buyanga was known for his extravagant lifestlye, often flaunting a collection of some of the world's most expensive vehicles.

The recipients were made to sign agreements of sale documents giving his company powers of attorney and an eviction notice which were to be used in the event that they failed to settle their debts.

The lending rate was 10 percent of the total borrowed money and, on default, Buyanga would allegedly charge 1 percent penalty on the accumulated figure on a daily basis. He, however, sold most of the properties and vehicles while the owners were still servicing their debts.

Some of the houses and residential stands allegedly sold were in areas such as Milton Park, Hatfield, Braeside, Belgravia, Bluff Hill, Borrowdale, Norton, Highlands, Mandara, Glen Lorne, Greendale, Mufakose, Greystone Park and Waterfalls.

It is alleged that of the victims, 16 had surrendered title deeds of their houses which were valued at over US$3 675 000. The police have since written to the Attorney- General’s Office asking them to extradite Buyanga back to Zimbabwe to face trial for his alleged offences.

When the electric gate to Buyanga's apartments (in SA) unexpectedly closed as he was driving in, and left a dent on his £300,000 soft-top Rolls-Royce, he parked his expensive motor in the gateway – blocking all traffic.

When the electric gate to Buyanga's apartments (in SA) unexpectedly closed as he was driving in, and left a dent on his £300,000 soft-top Rolls-Royce, he parked his expensive motor in the gateway – blocking all traffic.

They are also awaiting a green light from the Ministry of Foreign Affairs to allow them to physically track down the suspect. Police sources yesterday said Buyanga was also wanted by the British police for failing to appear before that country’s court on charges of conspiracy to commit fraud in 2010.

“Our latest information is that Buyanga is now using another name and is in Kenya. We are told that he has left South Africa and once we get authority from the Foreign Affairs Ministry this week, we will hunt him down and bring him back home to answer his cases.

I park where I want: Frank Buyanga clearly makes that statement

I park where I want: Frank Buyanga clearly makes that statement

“We have also established that he has new identity documents. While in the United Kingdom, he was known as Tawanda,” said Assistant Inspector Tom Muleya of the Police Serious Frauds Section.

The police said they were monitoring Buyanga’s movements and had also discovered that he had acquired several Zimbabwean birth certificates and passports.

  • Dumi Sani

    Ndivo vanonzi varume ka ava

    • Hararehigh

      nekuti imbava, saka muchiti varume ava.  i cant believe that people support crime like this and expect zimbabwe to prosper

  • dhewa72

    no crime committed here, people borrowed money and they surrendered their properties as surety, without surety, there was no prospects of obtaining the loan. The interest charged was fare compared to what loan sharks in UK charge APR 3000 to 4500. Failure to pay off your debt will inevitably increase the money you owe and as you will have defaulted, the lender ha the right to sell off your security inorder to recoup what he lended you. So there is no nid to issue a warrant of arrest

  • ndana

    @dhewa72 read article in full before commenting lol

    • dhewa72

      I have read the article three times and still concludes there is no crime he Frank Buyanga committed. Under company, the company directors/shareholders are seperate entities from the company as the company is recognised as a person on its own right. The company can sue and be sued. So the honest fact is that people entered into Loan Shark agreement with a person called Hamilton Finance Ltd and not Frank Buyanga. If the people who made the complains to the police wants to sue, they can only sue the company and not the Company Directors/Shareholders. This is the principle under the Corporate Veil. Its a similar case to the one that happened not so long ago with Muponda and his company. In Zim, the powerful people if they see a young man rising and making money, they try to take charge of the entity, if they fail, then they frame the youngster inorder to take over the company.

      • Miral Mombeshora

        yeah, the corporate veil can be lifted . . . . at least the law says so

      • Gweta

        this is one occasison when the Companies Act permits unveiling of the corporate veil to attach personal liability on the director(s) so he cannot escape criminal liability on the basis of seperate legal persona. basic Company law …

  • General Tichatonga

    Dhewa, he sold the houses vanhu vachibhandara mari (servicing their loan). this dude is a “conman” 

  • tsvangson

    yu’ll be dissapointeed of yu think yu’ll bring him down, ain’t no crime committed sounds lyc some forces @ play here…long live fb

    • A M24

      this guy unfortunately messed with girlfriend reone big dhara and Frank Buyanaga is going to die in a Zim jail. why do you think he has run away. The women was servicing her loan and he sold the house. manje dhara racho (muridzi we girlfriend) doesnt do negotiations. Saka Frank did commit a crime but he will pay over the odds for it

  • Dongijenaj

    Ndo mbavha dzepamusoro idzi dzinotora advantage over people’s desperation. Ngaasungwe aworere mujeri vakomana. Musi wamuchabigwa nevanhu vakaita saivava hamuzofi maka va sapota futi. Mark my word guys.

  • Degmasa

    mbasa
    taura hako dumi tat man knws hw 2 make mny dai ndawana murume anoziva zvairikuita panyika the man had brains jst lyk bill gates plz swag yanga iri titi

  • successor

    I believe thats how it is suppose to be,,,why do u borrow if u dnt want to payback. Thats the only way for the lender to recover his funds…But uri patyt mface

  • juicey

    there both side to a story not guilty till proven he is smart guy period

  • Tinaruh

    muface haana kana nyaya uyu  , case yake ndeye kuti zanu top brass borrowed money from him and defaulted zvino dzimba dziya vodzida futi apa marii havana kudzorera munhu ,looking for court order chete if the guy was a con man why use justice system , pay up kwete kunetsa munhu

  • Benzyangu

    Were are our institutions that should monitor and license such activities? what percentage of taxes did he contribute from his windfall? how was so much money and property moving around without the authorities noticing? thats the main argument

  • chibhanzi

    mazimbo u just dont want to see some1 being smarter and making money out of the stupid people we all know wre to get loans from hey the bank besides banks also rip people off

  • Me

    w a goin 2 brng dwn  e man, h haz mesd wt politicians, ok h hz comited n big offence wch warants Intpol , kana maita mari vafana dzikamai ,tambai namahure amajaira,its unfotunate 4 e young man, h told madhara kuti tinosvitsana kuma pena, bt luk nw, e man z n trouble 

  • Trevormoyo

    Difficult for me to understand why there is so much difference in opinion on this matter. The statement which is the key to whether he is a criminal or not is simply one…” He, however, sold most of the properties and vehicles while the owners were still servicing their debts.” if it’s true why then defend him? if it is false then he must be innocent.

  • Neyster

    Some very ignorant people .buyanga was committing serious crime.A pre-school kid can understand this cardinal sin of business .Stealing- this is simple daylight robbery.For starters Debtors are servicing their  loans .They did not default on their payments .However  the creditor( buyanga) went on to sell their 
    collateral properties  without their knowledge.This is beyond evil- this is a racket
    If no one cannot see buyanga`s  misdemeanours, there is no hope in zimbabwe.
    If this is how business is run in Zimbabwe -Forget about God -he will not help such gullible population 
    I don`t understand how this conman was allowed to roam free in Zim  running such business iniquities.
    If anyone is rubbing shoulders with such vermin .My advice is – please ,do the right thing and report  this wicked evil man before he commits more felony on you ,your relatives ,friends and neighbours 

  • Moyo1o

    jah  haana mhosva

  • Marky888

    he should come here to north america. toronto, ontario. canada. come here and try that and it wont be the constabulary or the corporate veil that would be of concern.

  • John2

    Its so sad been an African, we can never come out of poverty and those of us who try we will be stopped mainly killed by very old reigimes. This is the New Generation of Zimbabwe we are going on top and we will stay on top. Long live FB

  • Fbuyanga

    i did not commit any crime.i regret investing in zimbabwe where most of you are ungrateful..just because i own expensive cars and apartments,you label me ‘thief’..

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  • truth hurts

    Guys you are missing the point. He sold houses belonging to people who were paying their loans yaah??? and why would anyone have several birth certifivates and passports???? mbavha> period.

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