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Prosper Dembedza, Herald Correspondent
Harare magistrate Mr Donald Ndirowei has cancelled a warrant of arrest that he issued yesterday for the arrest of Marondera businessman Francesco Marconati after he failed to appear in court for his pre-sentence hearing.
Marconati was last week convicted of fraud after he fraudulently removed his business partner Ms Li Song from the directorship of Eagle Italian Shoes.
After cancellelling the warrant of arrest, Mr Ndirowei deferred the matter to tomorrow for pre-sentence hearing.
Marconati was convicted after the magistrate found him guilty of two counts of fraud.
In his ruling, Mr Ndirowei said Marconati unprocedurally removed Ms Song from the company directorship after he falsified documents that she had resigned from the company.
The State, represented by Mr Anesu Chirenji, proved that Marconati provided false information to the registrar of companies purporting that Ms Song had resigned.
He did not advise Ms Song of the development and did not follow procedures in appointing his son Alessandro Marconati as the new director.
As a result, US$6,8 million was lost due to his fraud and forgery.
Marconati was released into the custody of his lawyer pending his pre-sentence hearing.
Online Reporter