Online Reporter
Prosper Dembedza
Herald Correspondent
A FORMER chief finance officer and commercial manager with San Ding Lithium (Pvt) Ltd has appeared in court on allegations of misappropriating the company’s US$3,65 million using forged receipts and invoices to legitimise his loot.
Li Shigang (58) was facing theft of trust property charges when he appeared before Harare regional magistrate Mrs Jessie Kufa.
The complainant is Chen Dehua (57), a director at San Ding Lithium (Private) Limited.
It is the State’s case that sometime in the 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 access the company finances for San Ding Lithium and voluntarily injected US$630 000 as a personal investment into the company.
During Shigang’s stay, the company raked in over US$3, 65 million. Shigang and his accomplice Zhu Guozhonga misappropriated funds by using fake and/or forged receipts and invoices to legitimise his loot, and as a result the company was prejudiced of US$3 650 000. As a result, the company’s operations were halted. The court heard Shigang and his accomplice also disposed of two of the company’s Toyota Hilux double cabs with registration numbers AFY 3339 and AEN 0398, and pocketed the money.
In January 2024, the two accused connived to resign from the company without completing the company resignation formalities, that is, handing over financial records and ensuring that all reconciliations were done.
Shigang was intercepted by the complainant and one of the workers Chen Xingmei, as he was 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 over two years have passed with the accused refusing to surrender the company’s financial records.
The total value misappropriated by the accused is about US$3 650 000 and nothing was recovered.
