A Harare magistrate has issued a warrant of arrest for Chinese national Li Song who is wanted in connection with theft of trust property and fraudulent cash transfers involving millions of dollars.
Li is former director of Eagle Italian Leather company that
supplies leather ware to the security sector in Zimbabwe .
The businesswoman who is also a director of DGL Investments
is accused of swindling the company of US$2 million, after she fraudulently
transferred large sums of money to some offshore accounts in violation of
Reserve Bank of Zimbabwe regulations.
On Tuesday, Li appeared at the Harare Magistrates Court in
a case where she is a complainant against her former husband, Francisco
Maccornati, but managed to evade arrest after the court case.
Detectives from the CID Commercial Crimes Division pursued
her but allegedly failed to arrest her.
According to the court papers, sometime in January 2024, an
accountant at DGL Investments tried to use the company’s Ecobank account to
make foreign payments but was advised that the account was suspended by the
Reserve Bank of Zimbabwe.
He was advised that DGL Investments had made a foreign
payment of US$ 1 659 851-10 which was not acquitted. The account was also
allegedly used to make another foreign payment of US$292 596-30 and no
acquittal was done.
The company later engaged an external auditor who
discovered that its subsidiary company Strengthened Investments’ Ecobank
account, also had US$1 129 311.96 not yet acquitted.
The account was also allegedly used to make foreign
payments of US$147 400. Both companies had a total of US$3 232 159-30 in
foreign payments that were not acquitted, according to the auditor.
All the transactions were allegedly done by Li without the
knowledge of other directors and shareholders. Li is also a director of a
Mauritius -registered company Jacaranda Investments which is allegedly involved
in swindling RBZ of millions of dollars through transfers after she listed the
company as a supplier of raw leather. Newsday
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