Money-laundering bail hearing postponed
The money-laundering case involving Chinese nationals Tao Huizhong and Jinrong Huang, as well as Namibian customs official Julius Laurentuis, has been postponed for a third time.
Representing the State, prosecutor Rowen van Wyk brought charges of money-laundering and fraud against the two Chinese accused, while the third, Laurentuis, is still to appear in the dock.
Tao Huizhong and Jinrong Huang are charged with fraud and money laundering. It is alleged that the two, through trading enterprise Golden Phoenix CC, carried out 30 fraudulent transactions amounting to US$12 million between 1 January 2013 and 27 December 2016.
Van Wyk said the fraud charge was not complete and the State was not in a position to meaningfully address the issue related to the money laundering and fraud case.
Both Huizhong and Jinrong denied the allegations and pleaded not guilty.
When cross-examined by his lawyer Sisa Namandje, Huizhong testified that he imported clothing and textiles ten times a year amounting to approximately N$1.5 million, a far cry from the N$3.5 billion alleged. When questioned by Louis Botes representing Laurentuis, Huizhong said he could not remember the clearing agent he had used.
Namandje demanded for the release of Jinrong on the basis that he was only an employee of Golden Phoenix and not a director or owner.
Magistrate Venatius Alweendo postponed the bail hearing to today. The three accused remain in police custody.
STAFF REPORTER
Representing the State, prosecutor Rowen van Wyk brought charges of money-laundering and fraud against the two Chinese accused, while the third, Laurentuis, is still to appear in the dock.
Tao Huizhong and Jinrong Huang are charged with fraud and money laundering. It is alleged that the two, through trading enterprise Golden Phoenix CC, carried out 30 fraudulent transactions amounting to US$12 million between 1 January 2013 and 27 December 2016.
Van Wyk said the fraud charge was not complete and the State was not in a position to meaningfully address the issue related to the money laundering and fraud case.
Both Huizhong and Jinrong denied the allegations and pleaded not guilty.
When cross-examined by his lawyer Sisa Namandje, Huizhong testified that he imported clothing and textiles ten times a year amounting to approximately N$1.5 million, a far cry from the N$3.5 billion alleged. When questioned by Louis Botes representing Laurentuis, Huizhong said he could not remember the clearing agent he had used.
Namandje demanded for the release of Jinrong on the basis that he was only an employee of Golden Phoenix and not a director or owner.
Magistrate Venatius Alweendo postponed the bail hearing to today. The three accused remain in police custody.
STAFF REPORTER
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