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Marconati Files for Protection After Exposing Li Song

"Li Song tried to arrange for a hit on my life and that of my son" - Francesco Marconati

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Marconati Files for Protection After Exposing Li Song

Businessman Francesco Marconati who exposed a well-organized syndicate involved in externalizing scarce forex through the Reserve Bank of Zimbabwe has filed for protection, citing threats to his life.

Marconati, the owner of several companies including Eagle Italian Shoes and Leather and Strengthened Investments Private Limited, stated that he is seeking declaratory relief as law enforcement agencies have repeatedly arrested him on false charges after he reported forex externalization by a director in his companies.

Marconati expressed concerns that his rights are being violated after exposing the criminal syndicate.

He has petitioned the court to invoke protections for whistleblowers, as outlined in Article 33 of the United Nations Convention Against Corruption.

He believes that his actions, aimed at combating organized crime contributing to Zimbabwe’s economic struggles, warrant legal safeguarding.

Marconati said:

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Of all the cases I have reported, nothing has been tried.

Some of the cases have been overtaken by events and transferred to different police stations thus causing a change in circumstances, and as such, for purposes of establishing the cause of action for this present application, some of the issues maybe highlighted, however, it is my averment that this present application is based entirely on different circumstances which materially establish the need for my protection as a whistleblower.

Sometime in 2021, I discovered that the companies, at first Eagle Italian Shoes (Pvt) Ltd and Eagle Italian Leather (Pvt) Ltd, had been abused by one of the directors, Li Song, who was involved in illicit transactions and was involved in bidding for forex as if on behalf of the company yet it was only for her personal benefit.

The company lost huge sums of money in the process

Upon discovering these illicit and underhand dealings, I immediately acted swiftly as the majority shareholder to remove Li Song as director.

I also reported the case to the police citing my suspicions of her involvement in illicit transactions.

Later on, I also discovered that the same person, Li Song, was using other affiliate companies namely; DGL 9 and 5, and Strengthened Investments to facilitate illicit transactions, forging invoices, bidding on the foreign currency system for raw-materials which were never purchased or delivered to Zimbabwe.

Marconati Files for Protection After Exposing Li Song

Marconati revealed that subsequent investigations uncovered Li Song’s utilization of a company registered in Mauritius named Jacaranda Consulting Services.

Officially categorized as an investment company, this information has been made available to the police, who have been actively involved in the case.

Marconati stated that Li Song attempted to silence and hinder him by taking him to criminal court, accusing him of fraud for removing her as a director.

However, Marconati was acquitted of these allegations after a full trial.

It is my belief and position, however, that I blew a whistle on Li Song and her enablers who have been assisting her to manipulate the auction system and externalize huge sums of money outside Zimbabwe through all kinds of sophisticated white-collar criminal strategies for a period spanning from 2015 to the date that access to accounts belonging to the companies aforementioned was changed.

Marconati mentioned that ever since he exposed Li Song, he has been followed by unmarked vehicles without license plates.


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