A Chinese businesswoman, Li Qiuyi, has been remanded in custody after being accused of defrauding local company Icy Bay (Private) Limited of US$160,000 using a counterfeit lithium export permit.
Li, a shareholder in Li Jia Investments (Private) Limited, was denied bail by Magistrate Isheanesu Matova due to the seriousness of the charges and her immigration violations. She has been unlawfully residing in Zimbabwe since February 2023 and has an outstanding warrant for overstaying her visa. The magistrate ruled that granting bail would undermine the interests of justice.
The allegations stem from an August 2023 incident when Icy Bay’s manager, Qian Han, sought assistance on WeChat to obtain a Lithium Export Permit Licence (LEPL). Li reportedly claimed she had connections with influential individuals, including the First Family, and could secure the permit through her company for a fee of US$160,000.
Li allegedly arranged for Icy Bay representatives to meet at her residence in September 2023, where an initial payment of US$100,000 was handed over to her suspected accomplice, Zhang Xianghong. The remaining US$60,000 was paid in October during a second meeting.
In November 2023, Li provided Icy Bay with what she claimed was a valid export permit. However, when the company attempted to use the document later that month, customs authorities identified it as fraudulent.
The matter was reported to the police, and investigations are ongoing. Zhang Xianghong remains at large, and Icy Bay has yet to recover the lost funds. Li’s case highlights growing concerns about fraud in Zimbabwe’s burgeoning lithium industry.