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Italian tycoon fight for bail

by Staff reporter
12 Jun 2024 at 07:50hrs | Views
Francesco Marconati, an Italian tycoon based in Zimbabwe, will appear in court this morning for a bail application ruling after spending two nights in jail for failing to complete a mandatory 105-day community service sentence.

Marconati and his son Alessandro, who manage Eagle Italian Shoes, Eagle Italian Leather, gold mines in Matabeleland North, and a lodge in Mana Pools, were sentenced to community service for threatening to kill Chinese businesswoman Li Song, Marconati's partner for 18 years.

Despite the sentence, the Marconatis did not serve any hours, leading to Francesco's arrest for contempt of court, while Alessandro remains on the run.

Li, previously a director and shareholder in the companies, was replaced by Alessandro without her consent. This led her to file charges of fraud, forgery, and theft against Francesco, as the changes involved illegally altering registration documents and forging bank account signatures.

During the trial, Li testified that Francesco had illegally removed her from company directorships and bank signatory roles.

The Marconatis attempted to intimidate her into dropping the charges, threatening her after a court case in Harare.

Fearful, Li reported them to the police, resulting in their arrest, trial, and sentencing to community service, which they failed to fulfill, leading to Francesco's detention and Alessandro's fugitive status.

Source - online
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