The Nyarugenge Intermediate Court has upheld a 30-day remand for Chinese businessman Billy Cheung, a key investor in the Century Park luxury real estate project in Kigali.
Cheung, who was arrested on February 4, is being prosecuted for alleged money laundering and fraud.
He had appealed a previous remand decision by the Kicukiro Primary Court, but the appeal was denied.
Prosecutors are yet to reveal the full dossier, but investigations are reportedly focusing on suspicious financial flows linked to the high-end development, which includes residential apartments, hotels, and retail spaces.
Sources told us there are other possible charges linked with mining deals that went bad between him and local firms.
Cheung’s lawyers were unable to return calls at press time.
His hearing has been happening online. A date for the substantive hearing is yet to be set.
