Jailed Chinese To Pay Shs1.8b Debt As Newspaper Is Sued

Yuping Zhang and Jingyue Duan both directors of Kangda Uganda Limited are reported to have acquired Usd$330, website like this 000 from Guangzhou Lakelight Company Limited, shs78, 668,633 from Kenya Commercial Bank and USD 291,296 from Ms Fang Min of Fang Fang Restaurant and Hotels which they never paid back.

“The two ladies approached me in May 2010 seeking for a loan of USD150, 000 and later borrowed an extra USD365, 000 in July at an interest rate of 15% per annum,” Min said.

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Ms Min told us that after Kangda Company had failed to pay back the loan, she sought legal advice against Yuping and Duan respectively. Zhang appeared before Buganda road court grade one magistrate Matengo Dawa to answer cases of issuing false cheques.

On 6th December 2010 at Fang Fang hotel in Kampala Zhang Yuping issued cheque No.000012KCB Bank Oasis Limited to Fang Min yet she had no money on her account.

On 27th December 2010, Zhang while at Fang Fang restaurant issued cheque No.000013 KCB Bank Oasis Limited for usd122608 which turned out to be a fake.

On 31st January 2011 while at Fang Fang restaurant, Zhang again issued cheque No.00014138688 which when Min cashed it turned out to be false.

The embittered Min dragged Zhang to court where she was charged with three counts of issuing false cheques and a fraudulent intent.

During the trial, the Grade One Magistrate Buganda Road Court Matengo Dawa Francis found Zhang guilty and sentenced her to a fine of 30,000USD for count one,125,000 USD on count two and 140,000 USD on count three or face three years imprisonment. She failed to pay the fines and was sentenced to one year imprisonment.

Monitor’s False Publications

In an exclusive interview, Fang min expressed her disappointment in what she called the Daily Monitor’s insistence on tainting her personality in the eyes of her business associates.

“A big newspaper like that should not just publish falsehoods to destroy someone’s name and go unpunished,” Min remarked.

She said decided to sue the Daily Monitor for three false publications in one month that sought to portray her as a greedy profiteer.

“Sunday Monitor of 6th November 2011 run a story entitled ’Chinese fall prey to loan shark’ claiming that I had hiked the interest rate at 10%per month yet it was 15%per annum,” Min explained.

She said that the Sunday Monitor of 17th October 2011 run another story entitled ‘tycoon sues over first lady’s campaign shirts’ yet she has a contract showing that the balance was paid.

“They also allege that I refused to conduct an interview with their reporter which is not true because my mobile is always on and I never received a call in that direction,” Min clarified.

Worse still, on Thursday 10th November the Daily Monitor run a story entitled ‘jailed Chinese woman taken to Mulago (this means she died again)implying that Zhang is suffering because min “slapped a record-shocking interest rate on her” which was false too.

“Such malicious and irresponsible behaviour cannot be excused whatsoever, “Min said.

Other Companies Suing Zhang

Yuping Zhang was sued over debts by KCB, Liberty International Limited, Guangzhou Lakelight Company and white Snowman’s limited.

According to sources, Zhang acquired a staggering USD330,000 from Guangzhou Lakelight company limited but never paid back. She also acquired an equally blinding loan of shs78,668,633 from Kenya Commercial Bank under their overdraft facility and still didn’t pay.

White Snowman’s Limited has also filed a suit vide HCCS No.429 of 2011 against Zhang for failure to settle her current rent bills for the premises she occupies.

More so, Yuping Zhang procured goods inform of granite tiles worth usd66,000 for Liberty International Ministries Limited but never delivered. This company has also filed a suit vide HCMA no.450 of 2011 against the Chinese.

New Court Order

High Court Judge Benjamin Kabiito has decreed that Yuping Zhang and her co-accused Ms Jingyue Duan settle all their debts with the five companies forthwith.

The duo has been ordered to pay usd$33,000 to Guangzhou Lakelight company limited,Shs78million to kcb,USD145,363 to fang Min and other creditors,USD66,000 to Liberty International limited and the current rental bills of White Snowman’s limited.


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