Coastal businessman arrested with Chinese co-accused on multi-billion money laundering scheme

A well-known businessman of Wavis Bay’s transport fraternity, Julius Laurentius, had high hopes of being released on bail at the close of business yesterday, after spending his festive days in isolation behind bars in the Windhoek Central Prison on charges of fraud and money laundering amounting to hundreds of millions of Namibian Dollar. At the time of going to press his bail application was yet undecided.

Laurentius is the owner of trucking company XCCS Trucking and has been arrested along with Chinese national Tao Hangzong. They were arrested as part of a wider crackdown on Chinese-owned companies across Namibia suspected of being involved in illegal activities.
The Police carried out a raid on Laurentius’ offices in Wavis Bay in mid-December. When namib times inquired over his arrest on 19 December, the investigation neither denied nor confirmed the case. It transpired afterwards Laurentius was still overseas and would only be back in Namibia days later. His co-accused Hangzong lives in Ondangwa and was at the time already in police custody.
Laurentius was arrested upon return in Namibia on 21 December.
Tao, who was denied bail, returns to court on 16 February.