Online Reporter
Prosper Dembedza
Herald Correspondent
HARARE regional magistrate Mrs Jessie Kufa will tomorrow deliver her bail ruling on the matter of former chief finance officer and commercial manager with San Ding Lithium (Pvt) Ltd, who is facing allegations of misappropriating US$3,65 million using forged receipts and invoices.
This comes after the State, led by Mr Lawrence Gangarahwe, opposed bail.
Mr Gangarahwe called the investigating officer to the witness stand and he concurred with him that Li Shigang was not a proper candidate for bail.
Shigang is facing theft of property charges. The complainant is Chen Dehua (57), a director at San Ding Lithium (Private) Limited.
It is the State’s case that sometime in year 2022 Shigang joined San Ding Lithium (Pvt) Ltd as chief finance officer and commercial manager with full authority over core corporate operations, which include funds collection, disbursement, financial supervision, commercial settlements, payments approval and full control over the company finances.
The position which he occupied was one of trust and fiduciary responsibilities. On October 12 2022, Shigang planned to gain access to the company finances for San Ding Lithium and he voluntarily injected US$630 000 as a personal investment into the company.
During Shigang’s tenure of employment, the company realised over US$3, 65 million in revenue.
Shigang and his accomplice Zhu Guozhonga connived to steal money using fake and or forged receipts and invoices to legitimise his loot.
He then stole the US$3 650 000 through deliberately converting money meant for the company and its operations to their personal use, which resulted in the company operations being halted.
The court heard Shigang and his accomplice also disposed of the company’s two Toyota Hilux double cabs with registration numbers AFY 3339 and AEN 0398 and converted the money to their own personal use.
In January 2024, the two accused connived to resign from the company without completing the company resignation formalities, including surrendering the company’s financial records and indicating the company’s performance during the period when the complainant was away.
Shigang was also intercepted by the complainant and one of the workers, Chen Xingmei, while trying to carry some company financial records with him when he was resigning.
The complainant tried to contact the accused persons to resolve this issue, but they have been evasive over two years.
The total value misappropriated by the accused is about US$3 650 000 and nothing was recovered.
