Italian-born businessman Francesco Marconati was arrested on Friday, after a several day search by police after fresh fraud allegations were filed related to the Duration Gold Limited (DGL) 5 Mine in Matabeleland North.
According to court and police accounts, the 66-year-old had been avoiding arrest in the Inyathi area, at one point reportedly sheltering underground for about two days before leaving the mine site and travelling to Harare, where officers took him into custody on charges including fraud.
Marconati is expected to make a court appearance this weekend at the Harare Magistrate’s Court in connection with the latest matter.
The latest charges stem from allegations by alternate directors Yan Bo and Ke Wang that Marconati, working with Australian national Mark Andrew Hughes, improperly amended company records to list themselves as the only directors of DGL 5 a move both plaintiffs and some media outlets describe as a fraudulent re-registration of the mine.
Hughes is reported to have left Zimbabwe for South Africa amid the dispute.
However, the corporate backdrop is complex. In September 2025, the High Court reinstated Marconati and Hughes as directors of DGL Investments Number Five after they successfully challenged earlier filings that had removed them from leadership. That judgment found procedural mistakes in how the CR6 corporate return was filed by other parties.
This is not Marconati’s first high-profile legal conflict. He has been linked to multiple disputes, including allegations of improper corporate takeovers and firearm offences at mine sites — incidents that in past years have led to court cases and detentions.
There are also debates over how the justice system has handled his cases. In late 2025, the Supreme Court granted Marconati bail in a separate matter involving alleged firearms and assault charges, overturning an earlier High Court decision that had denied bail despite the National Prosecuting Authority consenting to his release.
Residents around the Inyathi mine have expressed frustration with ongoing tensions, including a shooting incident involving a miner’s security guard that drew attention to local safety and law enforcement practices.
More broadly, Zimbabwe’s gold mining sector — including firms like Duration Gold — has been marked by regulatory and ownership disputes, reflecting both the country’s rich mineral resources and challenges in corporate governance.
As Marconati’s latest case moves through the courts, his legal team and opponents are likely to continue disputing both corporate ownership issues and procedural handling, keeping the matter in the spotlight of Zimbabwe’s business and legal news.
Source: Harare Times
