A Harare man went to court because he took money from a business loan. Webster Ngwarati, age 50, faces theft charges after his wife said he stole $142,000. The court let him pay $800 bail instead of staying in jail. His wife Lydia runs Intravelvet Trading with him. They sell clothes through a company they both half-own. The pair agreed to borrow $200,000 from UNTU Finance Bank last July. They wanted extra cash to help their shops make more sales.
Lydia put up houses located in Tynwald, Kuwadzana 5, plus one in Domboshava as loan security. She added three trucks plus two Mercedes cars. Webster offered three more trucks as extra backing. Both signed papers for the bank money. The cash went straight into their business account. Lydia took all the funds out herself when the money arrived. She paid off an earlier $48,000 loan right away. Then she spent another $10,000 buying a house somewhere.
The wife trusted her husband with every penny left over. Webster received $142,000 to buy products for their retail shops. His job meant filling shelves with items people would buy. The plan fell apart when he spent every dollar on himself instead. He never bought anything for their shared business. The wife called the police after she learned what happened. Officers arrested Webster soon after her report.
The wife serves as company leader for Intravelvet Trading. She brought the police to catch her husband after he misused their loan cash. The couple worked together until Webster decided to steal. Their bank trusted them with large amounts based on valuable items they promised. Lydia expected Webster to help grow their clothing business through smart purchases. She discovered her trust had been broken completely.
Webster is accused of breaking legal rules about business money. The charge states he violated his wife's trust. Their equal partnership became damaged when one partner took everything. The case shows that business trouble can happen between married people just like regular partners. The court will decide what happens next as Webster awaits his full hearing date. Their clothing shops probably struggle without fresh inventory that never arrived.
Lydia put up houses located in Tynwald, Kuwadzana 5, plus one in Domboshava as loan security. She added three trucks plus two Mercedes cars. Webster offered three more trucks as extra backing. Both signed papers for the bank money. The cash went straight into their business account. Lydia took all the funds out herself when the money arrived. She paid off an earlier $48,000 loan right away. Then she spent another $10,000 buying a house somewhere.
The wife trusted her husband with every penny left over. Webster received $142,000 to buy products for their retail shops. His job meant filling shelves with items people would buy. The plan fell apart when he spent every dollar on himself instead. He never bought anything for their shared business. The wife called the police after she learned what happened. Officers arrested Webster soon after her report.
The wife serves as company leader for Intravelvet Trading. She brought the police to catch her husband after he misused their loan cash. The couple worked together until Webster decided to steal. Their bank trusted them with large amounts based on valuable items they promised. Lydia expected Webster to help grow their clothing business through smart purchases. She discovered her trust had been broken completely.
Webster is accused of breaking legal rules about business money. The charge states he violated his wife's trust. Their equal partnership became damaged when one partner took everything. The case shows that business trouble can happen between married people just like regular partners. The court will decide what happens next as Webster awaits his full hearing date. Their clothing shops probably struggle without fresh inventory that never arrived.
