Zvikomborero Parafini
TWO Chinese men allegedly defrauded their business partner of over US$400,000.
Mu Jirui and Li Miao appeared before Harare magistrate Marewanazvo Gofa yesterday charged with fraud and forgery.
They were released on US$500 bail each.
They were ordered to continue residing at their known addresses, to surrender their travel documents and to report once a fortnight at CID. The complainant is Wang Li, who is a Chinese national, and a shareholder of Katsu Agro Chemical (Pvt) Ltd.
The company deals in pesticides.
Jirui and Miao are also directors at the company. The court heard that in April, the three agreed to invest in Miao’s company, Kenova Crop Science (Pvt) Ltd, which specialises in pesticides, and was performing well.
On April 14, Wang Li injected US$420,000, which bought him 44 percent of the company’s shares.
Jirui paid US$210,000 acquiring 22 percent of the shares and Miao paid US$330,000, acquiring 34 percent of the shares.
The funds were handed over to Miao and Li received proof of payment.
To date, Li has not received her shares.
It’s alleged that in August this year, Miao filed an application with the High Court, under reference number HCH 485/25, demanding money and a car from Li, claiming the items were Katsu Agro Chemical (Pvt) Ltd property.
Upon reviewing the application, Li discovered a fraudulent document labelled “Investment Refund Agreement,” which misrepresented that Miao had refunded the funds.
Additionally, Miao filed a police report against Li, attaching a similar document claiming to be signed by Li and Jirui, confirming receipt of US$420,000.
However, Li never received any money from them. As a result of the duo’s actions Li suffered a prejudice of US$420,000 and nothing was recovered.
Rufaro Chonzi appeared for the State.
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