Bail in billions fraud scandal resume next week

11 Jan 2017 16:30pm
WINDHOEK, 11 JAN (NAMPA) - The hearing in the bail application of two Chinese nationals and a Namibian arrested in connection with alleged fraud, money laundering and tax evasion involving N.dollars 3.5 billion, resumes next week.
Court documents availed to Nampa on Wednesday show the hearing of the bail application was on Tuesday postponed to 17 January 2017, following a request by Windhoek Magistrate Venatius Alweendo.
He he has to attend to other similar official commitments (court assignments).
The postponement was effected as per agreement reached between Public Prosecutor Rowan van Wyk and defence lawyers, Advocate Louis Botes and Sisa Namandje.
The three accused men are Namibian businessman, Laurentius Julius, 47, and two Chinese men - Tao Huizong, 46 and 31-year-old Jinrong Huang.
They are each charged in connection with fraud, money laundering and tax evasion of N.dollars 3.5 billion, for allegedly smuggling the money out of Namibia through a customs clearing business.
A senior member of the Namibian Police Force (NamPol), Chief Inspector John Mutongwe, told the hearing on Monday that 29 more people are now being investigated in connection with the alleged fraud scandal.
According to Mutongwe, the 29 people to be arrested soon include amongst others, several Namibian and Chinese business people operating in Oshikango in the Ohangwena Region and Windhoek in Khomas.
He said some suspected Chinese and Namibian businesspersons closed their businesses after finding out they are under investigation since 2013.
Mutongwe also confirmed to the court that Julius is the owner of Extreme Customs Clearing Services that presented the allegedly fraudulent invoices for imports to the Finance Ministry’s Customs Office, as well as to First National Bank of Namibia and Nedbank Namibia.
(NAMPA)
SKE/AS/LI