Money-laundering suspects granted N$1.5m bail

24 January 2017 | Justice

Three suspects implicated in a massive fraud and money-laundering case involving N$3.5 billion have been granted bail of N$1.5 million each by the Windhoek Magistrate's Court.

Chinese nationals Huizhong Tao and Huan Jinrong, as well as Namibian businessman Laurentius Julius, were granted bail by Magistrate Venatius Alweendo yesterday.

Huizhong and Huan were represented by Sisa Namandje, while Louis Botes represented Julius. The State was represented by Rowen van Wyk.

Alweendo ruled that the State had failed to prove that the three accused would abscond.

“The [State's] fear was based on imagination,” he said.

The State had also argued that the accused would interfere with evidence, an allegation shot down by Alweendo. Furthermore, Alweendo found that the investigative officer assigned to the case, Chief Inspector John Mutongwe was biased and evasive when he was cross-examined by both Botes and Namandje.

Alweendo ordered Tao and Jinrong to report to twice a week to the Oshikango police station. Julius must report to the Walvis Bay police station.

The three were ordered to hand in their travel documents.

The Chinese accused were ordered not to leave the jurisdiction of the Ohangwena Magistrate's Court, while Julius was instructed to inform the court if he wanted to change his personal or business addresses.

Finally, the accused were told not to contact each other while the investigation continued.

The three are accused of money-laundering and fraud.

They allegedly laundered N$3.5 billion through the foreign exchange account of Julius's customs clearing business, XCCS and Organised Freight CC.

STAFF REPORTER

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