Renowned Bulawayo businessman Delma Lupepe has initiated legal proceedings to recover nearly $2 million lost in a controversial mining equipment transaction that allegedly went awry.
The former industrialist, known for his ownership of the now-defunct Merlin Clothing Company and management of Amazulu Football Club, has turned his attention to the mining sector in recent years.
According to filed papers, Lepar provided Lupepe with a collection schedule on February 5, 2018, directing him to retrieve the equipment from a designated warehouse. However, the process allegedly stalled when Lepar unexpectedly demanded excessive storage fees, preventing the successful transfer of goods.
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Bulawayo businessman Sues After $2 Million Botched Deal
The situation escalated when Lepar initiated interpleader proceedings in December 2018, bringing Yatakala Pvt Ltd (trading as Viking Hardware) into the dispute. These legal actions sought to determine whether Lupepe or Fidelity Printers held legitimate ownership claims to the equipment.
Court filings allege that Lepar subsequently withdrew these proceedings and terminated the sales contract on October 31, 2019. In a controversial move, he reportedly transferred ZWL$1,808,829 to Lupepe’s legal representatives at Mashayamombe Attorneys without prior authorization, using the 1:1 interbank exchange rate.
Allegations of Equipment Misappropriation
The legal complaint asserts that Lepar disposed of valuable mining assets including:
- A FAW diesel truck engine (value unspecified)
- A FEIHE diesel compressor valued at $20,500
- A 4×4 tractor worth approximately $79,005
These actions allegedly occurred while related High Court case HC1958/20 remained pending, with Lupepe’s legal team claiming this demonstrates intentional deprivation of property.
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Current Legal Position
Lupepe’s attorneys have submitted banking transaction records as evidence and are pursuing repayment in U.S. dollars. Documents show that on March 23, 2022, Lupepe returned the ZWL$1,808,829 amount to Lepar’s CBZ account from the Coghlan and Welsh Trust Barclays Account maintained by Mashayamombe Attorneys.
The case continues to develop as both parties prepare their arguments for the upcoming court proceedings.
