Online Reporter
Yeukai Karengezeka-Chisepo
Court Correspondent
The State has withdrawn fraud and forgery charges against two Chinese businessmen who were accused of defrauding their business partner of more than US$400 000.
Mu Jirui and Li Miao, who were represented by their lawyer Ms Maroveke Timukudze together with her colleagues, Charles Maraura and Shelton Mahuni, had appeared in court facing allegations of fraud and forgery involving their fellow shareholder, Wang Li.
The withdrawal follows an affidavit submitted by the complainant, Wang Li, indicating that the parties had amicably resolved their dispute and no longer wished to pursue the matter.
The case was formally withdrawn before Harare regional magistrate Mr Donald Ndirowei.
According to earlier allegations, the dispute arose in April last year when the three parties agreed to invest in Miao’s company, Kenova Crop Science (Pvt) Ltd, which specialises in pesticides.
Wang Li reportedly injected US$420 000 into the venture, acquiring a 44 percent stake, while Jirui contributed US$210 000 for a 22 percent shareholding.
Miao is said to have invested US$330 000, securing a 34 percent stake. It was alleged that despite investing, Wang Li did not receive the corresponding shares.
The court previously heard that in August this year, Miao filed an application at the High Court under case number HCH 485/25, demanding money and a vehicle from Wang Li, claiming they belonged to Katsu Agro Chemical (Pvt) Ltd.
Upon reviewing the application, Wang Li allegedly discovered a document titled “Investment Refund Agreement,” which purported that the invested funds had been refunded.
Prosecutors alleged the document was fraudulent and misrepresented the true position, as Wang Li maintained that no money had been returned.
It was further alleged that Miao filed a police report supported by a similar document, purportedly signed by both Wang Li and Jirui, acknowledging receipt of US$420 000 claims Wang Li denied.
As a result of the alleged misrepresentation, Wang Li was said to have suffered prejudice amounting to US$420 000, with no recoveries made.
