A managing director for a local real estate agent, Graham and Douglas has appeared in court facing charges of defrauding 548 home-seekers.
It is further understood that in 2008 Nyaude sold his company to George Bateni who is now the Managing Director.
In 2009, the complainant appointed the accused, Bateni to manage his properties and left for South Africa.
Bateni is alleged to have misrepresented to desperate home-seekers that the 548 stands earlier on sold had been repossessed and forged the signature of Nyaude to authenticate his claims.
Bateni allegedly went on to resale the 548 stands.
It is further alleged that the accused collected more than $235 000 from the home-seekers which he said was for sewer connections but converted it to his personal use. Nothing was recovered.
The offence was discovered after Nyaude returned from South Africa in 2010 and the 548 people realised that the stands they bought from Bateni had already been sold.
The trial is expected to kickoff on the 9th of January next year.
