Geingob’s partner released on N$1m bail

National 03 feb

Chinese tycoon and President Hage Geingob business associate, Yuequan Jack Huang, who was arrested on Wednesday in connection with tax evasion, fraud and money laundering charges involving N$3,5 billion, has been granted N$1 million bail by the Windhoek Magistrate’s Court, after a brief appearance on Thursday.
His bail conditions include that he reports to the Windhoek Police Station once every week, between Mondays and Fridays.
If he is not in Windhoek, he should report to any other police station in Namibia.
Huang was also ordered to hand over his passport and other travelling documents to the investigation team.
Should he need to leave the country, Huang may only do so with consent of the investigation team.
When he returns to Namibia, he will be expected to hand over his passport and other travelling documents again.
The accused was ordered not to interfere with the police investigation, by directly or indirectly making contact with State witnesses.
He appeared before Windhoek Magistrate Ruben Mutuku, where he was added as the fourth accused in the N$3,5 billion tax evasion, fraud and money laundering case.
His co-accused are 47-year-old Namibian businessman, Laurentius Julius, Chinese nationals, Tao Huizong (46) and Jinrong Huang (31).
They will appear in court again on 16 February.
Earlier, Huang had launched an urgent application in the Windhoek High Court for his release, in which he painted himself as philanthropist, who has pumped millions into Namibia.
He claimed in his High Court affidavit that his incarceration jeopardises the studies of students he sponsors through his Namibia-China Loving Heart Organisation (NCLHO).
Huang, who is at the centre of an unfolding political storm for Geingob, because of his close proximity to the president, also claimed in court papers that he had, through various business ventures, invested millions of Namibian dollars in the country.
Included in Huang’s empire of business interests in Namibia is a 60 percent shareholding in African Sunrise Investment, in which the Dr Hage Geingob Family Trust and the president’s ex-wife Loini, have a 20 percent stake each.
African Sunrise Investment plans to build more than 400 apartments, 24 villas, two mansions and a hotel in the upmarket area of the Klein Windhoek farmlands.
Huang claimed in his High Court affidavit, that the correct procedures had not been followed ahead of his arrest.
He further claimed that he was not a flight risk, even though he was arrested while attempting to leave for Luanda on a business trip.
“I have invested millions of Namibian dollars in this country, through various business ventures. I have also through various organisations, mostly the Namibia-China Loving Heart Organisation (NCLHO), sponsored several Namibian students to pursue medical studies in China.
“Some of them have now graduated, and I continue to be responsible for their livelihood and my arrest and detention jeopardises their studies,” Huang’s affidavit said.
He appeared before Judge Shafimana Ueitele, who was expected to hear the businessman’s urgent High Court application to be released. However, the matter was immediately transferred to the Windhoek Magistrate’s Court after Ueitele was informed by the legal teams that an agreement had been reached for Huang’s terms of bail.
Huang was arrested at Hosea Kutako International Airport, as he was about to leave for Angola, where he also owns businesses.
Huang said he was going to conclude a “major” business deal and was not aware that he was under any investigation.
“I was about to leave for Luanda to conclude a major business agreement and was surprised to be confronted by the fourth respondent (Chief Inspector Hosean Nekundi), advising me that I am a wanted person and that he was in possession of a warrant of arrest for my detention.
“The first respondent (a Windhoek magistrate) issued a warrant without having before him and without having considered any statement under oath on the basis of which there was a reasonable suspicion that I have committed fraud or any money laundering,” Huang said in his affidavit.
The Chinese immigrant, who has permanent residency in Namibia, described himself as a law-abiding citizen.
The Windhoek Observer reported in May last year that Huang has over 16 years built a huge business empire in Namibia, concentrated inside the border town of Oshikango.
He has interests in mining exploration, building material trading, property (commercial, residential and industrial) and transfrontier trading at Oshikango, where he owns ten affiliate firms.
His Oshikango businesses include the Freedom Square shopping centre and Dragon City, which comprises of several stores, as well as Sun Square Hotel and China Town. Huang has 100 percent shareholding in all these companies.
Huang’s Jack Trading cc has been importing Anhui Conch Cement from China to Namibia for more than four years.
In 2014, Huang pledged the third highest amount of N$1 million at a SWAPO gala dinner in Ongwediva.
 The Windhoek Observer has also established that Huang owns two Japanese restaurants in Boston, Massachusetts in the United States.