By Staff Reporter
Harare – A Chinese businessman and co-director of SABRICORP Trading (Private) Limited has appeared in court facing fraud charges involving more than US\$370,000.
The accused, Yao Zhao (29), was arrested at Robert Gabriel Mugabe International Airport while attempting to leave the country. He appeared before Harare regional magistrate Marehwanazvo Gofa and was remanded in custody until tomorrow for continuation of his bail application.
The complainant is Myles Karuma (33), who is also a co-director of the company.
According to State papers, in November 2023 Zhao approached Karuma with a proposal to form a joint venture company for the importation of excavators from China for resale in Zimbabwe. Acting on this request, the two registered SABRICORP Trading (Pvt) Ltd.
The company went on to import four 22-tonne excavators and four 38-tonne excavators. However, upon arrival in Zimbabwe, Zhao allegedly diverted the machinery and converted it to his own use, depriving both the company and his business partner.
Karuma later realised he had been duped and reported the matter to the police, leading to Zhao’s arrest.
The State alleges that Zhao’s actions prejudiced Karuma of US\$370,000, with nothing recovered to date.
