9 more moneychangers denied bail

Michael Mashiri

Zim Now Correspondent

Nine more alleged moneychangers who were allegedly caught in the business have appeared in court.

This was after Elliot Mavhura and Francis Kaunda were denied bail on Tuesday.

They are among the 65 who were arrested last month for contravening the Exchange Control Act.

The Harare Magistrates’ Court, through magistrate Dennis Mangosi, denied bail to Fungai Chikonyora, Adrian Dzviti, Godwin Muzunze, Shelton Mufunge, Naison Chiduku, Tinashe Jeza, Rangarirai Chimbamba, Elia Kadungure and Vitalis Mapika.

The State, through prosecutor Lancelot Mutsokoti, Thomas Chanakira and Takudzwa Jambawu, opposed bail, arguing that the offence is a serious one that attracts a jail sentence on conviction.

Chikonyora, among others, who is charged with contravening sections of Exchange Control Act and Money Laundering was denied bail.

It is alleged that on April 12, one Alexio Chideme, employed by PITO Investments Pvt Ltd was looking for United States dollars in exchange for ZiG.

Chideme approached one Nomore Mutimumwe for assistance in acquiring United States Dollars, who in turn also approached Chikonyora, who was working with Rumbidzai Bhushu, who is still at large and the latter supplied a CBZ Bank account number belonging to TEX BOAZ Investments Pvt Ltd.

Chideme effected a transfer of ZiG340 000 from CBZ account after agreeing at an unofficial exchange rate of ZiG18:50 per US$1 but he was never given the cash.

There is overwhelming suspicion among some of the accused persons as they were found in possession of large sums of money, bank cards, swipe machines, phones that were transacting money to different individuals, among other things.