Mu Jirui and Li
Miao appeared before Harare magistrate Marewanazvo Gofa yesterday charged with
fraud and forgery.
They were
released on US$500 bail each.
They were
ordered to continue residing at their known addresses, to surrender their
travel documents and to report once a fortnight at CID. The complainant is Wang
Li, who is a Chinese national, and a shareholder of Katsu Agro Chemical (Pvt)
Ltd.
The company
deals in pesticides.
Jirui and Miao
are also directors at the company. The court heard that in April, the three
agreed to invest in Miao’s company, Kenova Crop Science (Pvt) Ltd, which
specialises in pesticides, and was performing well.
On April 14,
Wang Li injected US$420,000, which bought him 44 percent of the company’s
shares.
Jirui paid
US$210,000 acquiring 22 percent of the shares and Miao paid US$330,000,
acquiring 34 percent of the shares.
The funds were
handed over to Miao and Li received proof of payment.
To date, Li has
not received her shares.
It’s alleged
that in August this year, Miao filed an application with the High Court, under
reference number HCH 485/25, demanding money and a car from Li, claiming the
items were Katsu Agro Chemical (Pvt) Ltd property.
Upon reviewing
the application, Li discovered a fraudulent document labelled “Investment
Refund Agreement,” which misrepresented that Miao had refunded the funds.
Additionally,
Miao filed a police report against Li, attaching a similar document claiming to
be signed by Li and Jirui, confirming receipt of US$420,000.
However, Li
never received any money from them. As a result of the duo’s actions Li
suffered a prejudice of US$420,000 and nothing was recovered.
Rufaro Chonzi
appeared for the State. H Metro
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