A Bulgarian investor, Adam Markov, has reportedly lost $200,000 in a scam involving Barnabus Kavai, a director at KPM Mining, and Ashley Makara, the owner of Crown Mine in Guruve.
The suspects were granted bail of $200 each by Harare Magistrate Marehwanazvo Gofa during their court appearance on Saturday.
As part of their bail conditions, Kavai and Makara must surrender their passports, report to police weekly, and return to court on October 30.
Markov traveled to Zimbabwe on February 12 to explore investment opportunities after being invited by Kavai. Upon his arrival, he met Makara, who, along with Kavai, claimed they were in financial trouble and needed $200,000 to support Crown Mine and improve its production.
The court heard that to secure Markov’s investment, they promised him a partnership, guaranteeing a return of 4 kilograms of gold after four months and a 30% share of the mine’s net profits, along with a directorship in Kavai’s company.
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Convinced of their legitimacy after a four-day tour of Crown Mine from February 15, Markov agreed to invest and paid the $200,000 in four installments between February 23 and June 19. However, instead of using the money for the mine, Makara allegedly used it to settle existing debts.
Markov became actively involved in improving the mine, even purchasing a JCB tractor-loader-backhoe for $35,000 to boost efficiency, which remains at Crown Mine.
When Markov sought his promised returns in June, Kavai and Makara threatened him with deportation, citing his tourist visa status, and forbade him from visiting the mine. Feeling intimidated, Markov reported the situation to the police, leading to the arrest of Kavai and Makara.
