Online Reporter
Zvikomborero Parafini
BUSINESSMAN Francesco Marconati is expected back in court today after spending the weekend in remand prison.
He is being accused of hatching a US$1,9 million fraudulent scheme.
He appeared in court over the weekend.
He is expected to file his bail bid today.
The complainant is Yan Bo, a Chinese national, who is the alternate director of DGL5 (Pvt) Ltd.
Marconati is a former director for the same company.
Allegations are that in 2017, Marconati, Li Song, Xing Mingchang, Mark Andrew Hughes and Ke Wang formed a company which they named DGL5 (Pvt) Ltd.
They registered it in terms of the Companies Act.
The major objective of the company was to acquire mining claims, process minerals, mining of minerals and to operate mines and or any business usually carried out in connection with mining.
DGL5 (Pvt) Ltd then occupied Queens Mine, through investments by its shareholders, and began to operate at the mine.
Prosecutors allege that on August 4, 2024, Marconati and Hughes, who is still at large, resigned from DGL5 (Pvt) Ltd.
The company remained operational with three other directors in charge.
On December 11 last year, Marconati allegedly forged the company’s documents and re-registered DGL5 with the Registrar of Companies.
He appointed himself as one of the directors of the company.
Marconati and Hughes then allotted each other shares at the ratio of 60% and 40% respectively.
Marconati appointed Marshall Mangwiro as the Secretary or Principal Officer on December 2.
The directors of the original DGL5 (Pvt) Ltd say their company suffered a potential prejudice of US$1,900,000.
