Chinese businessman charged with $370,000 fraud in excavator scheme

Washington Madyise (35) appeared before Harare magistrate, Ms Ruth Moyo, who granted him US$100 bail and remanded the matter to August 18.

Prosper Dembedza-Herald Correspondent

A Chinese businessman and co-director of SABRICORP Trading (Private) Limited has appeared in court on fraud charges involving over US$370 000.

Yao Zhao (29) appeared before Harare regional magistrate Marehwanazvo Gofa, after he was arrested at Robert Gabriel Mugabe International Airport while intending to leave the country.

Zhao was remanded in custody to Friday, September 12, 2025 for continuation of bail application. The complainant, Mr Myles Karuma (33), is also a director of SABRICORP Trading (Private) Limited.

According to State papers, sometime in November 2023, Zhao approached the complainant and requested to partner with him, and they registered a company to import excavators from China for resale.

They named the company, SABRICORP Trading (Pvt) Ltd and imported four 22-tonne excavators and four 38-tonne excavators under the company’s name.

When the equipment arrived in Zimbabwe, Zhao diverted the excavators and started using them, depriving the company and his co-director.

Mr Karuma realised he had been duped and filed a police report, leading to Zhao’s arrest.

As a result of Zhao’s actions, the Mr Karuma suffered a total prejudice of US$370 000 and nothing was recovered.