The River Valley Properties CEO collapsed and was hospitalised on Tuesday after learning that police were closing in on her.
Police spokesman Assistant Commissioner Paul Nyathi said Dube faced fraud charges for allegedly selling urban state land.
Nqobani Sithole, a member of Dube's legal team, on Thursday said she was still receiving treatment at a private hospital in Gweru.
"She has been charged. The charges are a joke and we look forward to demonstrating this in court," said Sithole.
Dube's company developed and sold stands in Hartfordshire Phase 1 and 2 as well as Subdivision 4 of Gwelo Small Holdings (Woodlands Phase 1 and 2) in Gweru.
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