A Chinese businessman and Co-director of SABRICORP Trading (Private) Limited appeared in court on fraud charges involving over US$370,000.
The accused, Yao Zhao (29) appeared before Harare regional magistrate Marehwanazvo Gofa, after he was arrested at Robert Gabriel Mugabe International Airport while leaving the country.
The accused was remanded in custody until tomorrow for continuation of the bail application.
The complainant is Myles Karuma (33), who is also a co-director of SABRICORP Trading (Private) Limited.
According to State papers, sometime in November 2023, Zhao approached the complainant, requested to unite with him and register a company for importing excavators from China for resale.
Acting upon Zhao’s request, Karuma amalgamated with him and formed a company named SABRICORP Trading (Pvt) Ltd.
Thereafter, the two imported 4 x 22-tonne excavators and 4 x 38-tonne excavators were used under the company’s name.
Upon arrival in Zimbabwe, it is alleged that Zhao diverted the excavators and converted them for his own use, depriving the company and his co-director.
The complainant realised that he had been duped and filed a police report, leading to the arrest of the accused person.
As a result of Zhao’s actions, the complainant suffered a total prejudice of US$370 000-00 and nothing was recovered.
