Munyaradzi Mashiri- Court Correspondent
The director of Ledim International Investments Private Limited has been hauled before the courts on charges of contravening the Exchange Control Act and money laundering after allegedly importing goods worth more than US$368 000 without proper documentation or payment through the formal banking system.
Ledim International, represented by its director, Edson Kaponda, appeared before magistrate Marehwanazvo Gofa at the Harare Magistrates’ Courts facing charges under the Exchange Control Act as well as the Money Laundering and Proceeds of Crime Act.
He is expected back in court on September 22, 2025.
Prosecutor Rufaro Chonzi told the court that between April 11 and May 8, 2025, Kaponda imported naphthalene from South Africa valued at US$368,695.65.
The imports were cleared by ZIMRA at the port of entry.
However, Ledim International was not registered with the Reserve Bank of Zimbabwe Exchange Control Division as an importer.
The court heard that the company had no recorded imports with the central bank, suggesting that payments for the goods were not made through the formal banking system.
Kaponda is further accused of engaging in money laundering by facilitating the inflow of illicit funds into Zimbabwe through the purchase of imports using proceeds of crime.
The company is also suspected of involvement in cash smuggling.
He was arrested on August 19 and formally charged with violating the Exchange Control Act as well as the Money Laundering and Proceeds of Crime Act.
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