Former Reserve Bank of Zimbabwe governor Gideon Gono, once one of the most powerful people in the country, is in trouble. One of his houses in Greystone Park will be auctioned next week over the non-payment of a $1.3 million debt.
Gono is said to have bought vehicles worth $1.749 million from Oasis Motors on credit way back in January 2009 and paid part of the money leaving a balance of $1.319 million.
The money was supposed to have been repaid by 31 January 2010.
Gono, who was at the helm of the central bank until 2013, argued that the debt should be declared illegal because charging in foreign currency was illegal at the time.
He also argued that the suit should be dismissed as it had been filed after the three-year period permitted under the Prescription ct. But he lost the case.
Zimbabwe adopted the multi-currency system in 2009.
Related stories:
US ambassador said Gono was increasingly acting as de facto Prime Minister
Gono was central banker, Finance, and Trade Minister melded in one
Gono ZANU-PF’s poster boy for corruption
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This post was last modified on August 17, 2016 7:55 am
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