Thursday, 10 December 2020


A row amongst three Chinese businessmen landed on of them in the dock facing fraud charges involving US$6 million.

The suspect, Chi Yingdang 55, was not asked to plead when he appeared before Harare magistrate Judith Taruviunga and was released on $20 000 bail.  

He was remanded to appear in court on February 15, 2021. The first complainant is Wu Chenghui and the second complainant is Gu Dialing.

Both the complainants have 10,3 percent shares each while Yingdang owns 62,9 percent shares of ZIMCM.

The court heard that in 2016, Yingdang who jointly owned ZIMCN Private Limited together with Chenghui, invited Dialing and two other Chinese nationals to partner and invest in ZIMCN which Yingdang said had ten gold claims in Mahaka.

They agreed that Chenghui and Dialing would pay RMB9 270 000 each for their allocation of 10,3 percent shares and after they paid, the gold mining project began and because Yingdang had 63 percent shares, he was entrusted with the position of managing director and to be in charge of the entire operations of the company.

Three months into the project Yingdang requested more money from the complainants and induced them to invest RMB515 000 each.

In March 2017, Yingdang reportedly informed the complainants that the working capital was still not enough and that the milling plant project had been stopped whilst in actual fact he was operating.

On November 7 this year, the complainants resolved to sell the gold project of ZIMCN citing viability problems, the other shareholders signed the resolution but Yingdang did not and became evasive. H Metro


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