By Freeman Razemba
Police have launched a manhunt for two senior officials from a local company, ASA Resource Group Plc, on allegations of defrauding Bindura Nickel Corporation Mine (Trojan Nickel Mine) in Bindura of more than $2,7 million. The two are Yim Chiu Kwan (63) and Yat Hoi Ning (61), who were ASA Resource Group’s finance director and chief executive respectively.
Yat is also a shareholder of the company.
In a statement, Criminal Investigations Department acting spokesperson Detective Assistant Inspector Pretty Rushwaya said the whereabouts of the two were still not known.
“The suspects are wanted in connection with a case of fraud involving $2 761 500, which occurred at Bindura Nickel Corporation Mine (Trojan Nickel Mine), Bindura,” she said.
She said on September 19, 2015, the suspects acting on common purpose of defrauding Bindura Nickel, misrepresented to its finance director that they wanted to purchase Modified Smelter Equipment from a China based company.
“The duo ordered the finance director to transfer a total of $2 761 500 to Qiaoyu Limited Bank in China, using the loan repayment facility route, when in actual fact, the money was not meant for loan repayment,” said Det Asst Insp Rushwaya.
“However, the finance director informed the duo that they needed to obtain a signed board of directors resolution from Bindura Nickel Cooperation Smelter Board, prior to the remittance of the amount.”
Det Asst Insp Rushwaya said on September 22, the board of directors authorised the procurement of the equipment and the following day, the company transferred the amount from Ecobank to BancABC for onward transmission to ASA’s Barclays Bank account in United Kingdom.
On September 24, 2015, the money was transferred from Barclays Bank to Qiaoyu Limited Bank account in China where the suspects had interest in.
“However, the equipment that the suspects purported to have purchased was not delivered,” said Det Asst Insp Rushwaya.
“Although the transactions reflect the repayment of shareholders’ loan, it was established that Qiaoyu Limited had no beneficiary of the purported loan.”
Det Asst Insp Rushwaya said the suspects’ whereabouts were still not known and their last known address was Freda Rebecca Guest House in Bindura.
Police are appealing to anyone with information that may lead to their arrest to contact Detective Constable Lisita on 0776 867 130, CID Bindura on 0271-6515, national complaints desk on (04) 703631 or any nearest police station. The Herald