27 more suspects face arrest in N$3.5b fraud

17 February 2017 | Justice

The investigation into a N$3.5 billion tax evasion, fraud and money-laundering case involving a prominent Chinese businessman, three of his countrymen and a Namibian is still incomplete.

The State prosecution led by Rowan G van Wyk informed the Windhoek Magistrate's Court that there were 27 more persons of interest to be traced and added to the case.

Magistrate Vanessa Stanley extended the bail granted to the five accused and postponed the hearing to 1 August 2017 for further investigation.

Tao Huizhong, Jinrong Huang, and Julius Laurentius were each granted N$1.5 million bail and Zhu Honggang N$500 000, while the millionaire businessman Yuigua Haung, also known as Jack Huang, is free on N$1 million bail.

The five men are accused of tax evasion, fraud and money-laundering involving N$3.5 billion.

Huang was arrested at Hosea Kutako International Airport before he could board a plane for Angola, where he allegedly has numerous business interests.

He is out on N$1 million bail on condition that he report once a week at the Windhoek police station or the nearest police station.

He was further ordered to hand over all his travel documents to the investigating officer in the case. He must ask permission from the investigating officer if he wishes to travel abroad.

Huang was further ordered not to interfere with the State witnesses or the investigation.

Zhu is the owner of Glory Building Material Supply in Ondangwa and is said to be a Namibian national.

He is accused of fraud and of contravening section 6 of the Prevention of Organised Crime Act, which deals with the acquisition, possession or use of the proceeds of crime.

Laurentius is a customs official at Walvis Bay.

Lawyer Sisa Namandje appeared on behalf of the Chinese accused while Dirk Conradie appeared for Laurentius.

FRED GOEIEMAN

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