Ruling in bail billions fraud case next week
17 Jan 2017 17:40pm
WINDHOEK, 17 JAN (NAMPA) - A ruling in the bail application of two Chinese men and a Namibian arrested in connection with alleged fraud, money laundering and tax evasion worth N.dollars 3.5 billion, will be made public on Monday.
Magistrate Venatius Alweendo will hand down the verdict in the Windhoek Magistrates Court along Lüderitz Street.
Alweendo announced this on Tuesday afternoon shortly after the final written submissions by Advocate Louis Botes and lawyer Sisa Namandje.
The two lawyers are defending 47-year-old Namibian businessperson, Laurentius Julius; Tao Huizong, 46; and 31-year-old Jinrong Huang.
There is no credible evidence presented before court against the three applicants apart from the mere speculations so far submitted by the State, said the defence in their submissions.
They argued that Namibian Police Chief Inspector John Mutongwe did not provide the court with factual evidence against the granting of bail.
In addition, they said the State, led by Public Prosecutor Rowan van Wyk, conceded in court that they have no factual evidence to charge the three men for money laundering and fraud.
The defence said Mutongwe did not explain in detail how the three men could interfere with investigations when granted bail and therefore his evidence in this respect cannot be considered as truthful by the court.
The three are each charged in connection with fraud, money laundering and tax evasion through a customs clearing business.
The State is objecting to the granting of bail on grounds that the three men will abscond from Namibia to evade prosecution.