South African Businessman Moti Released From Detention in Germany

(Bloomberg) -- Zunaid Moti, who owns chrome businesses in South Africa and Zimbabwe, was released from detention in Germany after being held in Munich since August.

Moti has returned to South Africa after an arrest warrant issued by Russia was canceled, according to an emailed statement from his company, the Moti Group.

“The full exoneration of Mr. Moti makes the fact of his detention in Germany all the more unacceptable, and we expect a thorough investigation,” Ulrich Roux, Moti’s lawyer, said in the statement.

Read more about Zunaid Moti’s investments in Zimbabwe

His arrest was in relation to the alleged theft of a pink diamond worth about $14 million from a Russian businessman, the Mail & Guardian reported at the time.

©2019 Bloomberg L.P.