Chinese millionaire granted bail in fraud case

02 Feb 2017 12:40pm
WINDHOEK, 02 FEB (NAMPA) – Chinese millionaire Jack Huang, arrested on Wednesday in connection with the alleged N.dollars 3.5 billion tax evasion, fraud and money laundering, was Thursday granted a bail of N.dollars one million.
The owner of Windhoek’s China Town business complex made his first appearance in the Windhoek Magistrate’s Court along Lüderitz Street.
The bail was however granted with stringent conditions including that Huang reports himself to the Windhoek Police Station once per week between Mondays and Fridays, and if not in Windhoek, he report himself at any other police station in Namibia.
Huang was also ordered to hand over his passport and other traveling documents to the police investigating team. Should he need to leave the country, Huang may only do so with consent of the investigating team that upon his return to Namibia will again expect the hand over of his passport and other traveling documents.
The accused was also ordered not to interfere with the police investigation by ways of directly or indirectly making contact with State witnesses.
He appeared before Windhoek Magistrate Ruben Mutuku when added as the fourth accused in the N.dollars 3.5 billion tax evasion, fraud and money laundering case.
His co-accused are 47-year-old Namibian businessperson, Laurentius Julius; Tao Huizong, 46; and Jinrong Huang; 31.
Julius, Tao and Jinrong were last week granted a bail of N.dollars 1.5 million each in the Windhoek Magistrate’s Court upon the completion of their joint formal bail application.
All four accused return to court on 16 February 2017, pending further police investigation into their case.
Lawyers Sisa Namandje and Mbushandje Ntinda represented Huang while Senior Public Prosecutor Rowan Van Wyk appeared for the State on Thursday.
Huang’s arrest comes after years of police investigations since 2013 targeting a string of companies owned primarily by Chinese business people in Namibia.
He was arrested at the Hosea Kutako International Airport while on his way to Angola, where he also owns businesses.