afrol News - Namibian court orders continued freezing of assets

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Namibia
Economy - Development | Politics | Society

Namibian court orders continued freezing of assets

afrol News, 24 July - A court in Namibian has ordered the continued freezing of assets in the graft case that has sought the interviewing of the son of China's President Hu Jintao.

The court said today a decision will only be made in two weeks on whether to release the frozen assets of the two Namibians and one Chinese national, saying the bank accounts and other assets of the three will remain frozen pending a decision on August 7.

The three were arrested last week on bribery allegations involving Nuctech, a company headed until last year by Chinese president's son, known as Hu Haifeng.

Defense lawyers tried today to argue for their release saying the state has not proven any case against their clients.

The case involves a bribe claim involving a $56 million deal to supply scanners to Namibia's ports and airports countrywide.

The three are facing charges of fraud, corruption and bribery involving a government contract with state-owned Chinese company, Nuctech, a world leader in scanning technology.

The Namibian government was to make an £8 million down-payment, with the balance coming from a loan from Beijing, advanced on condition that it was spent with Chinese companies.

By staff writer

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