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Woman externalises $6m to Botswana

by Staff reporter
28 Sep 2018 at 07:03hrs | Views
A BULAWAYO businesswoman, who had been on the police wanted list for allegedly externalising more than $6 million to Botswana, appeared in court yesterday.

Delny Deanna Ashley Davies (41) of Morningside suburb appeared before Bulawayo regional magistrate Mr Trynos Utawashe facing charges of contravening the Exchange Control Act or alternatively Money Laundering and Proceeds of Crime, Chapter 9:24 after allegedly externalising $6 314 006, R500 100 and 39 500 Euros.

She was remanded out of custody to October 24 on $2 500 bail. Prosecuting, Ms Caroline Matanga said between January 14 and April 9 this year, Davies, who is a holder of a foreign currency bank account at Stanbic Bank in Botswana, allegedly crossed into the neighbouring country through Plumtree Border Post in her personal capacity and through other couriers who are all Zimbabwean passport holders with large amounts of cash.

She allegedly deposited a total of $6 314 006, R500 100, EUR39 500 into her three foreign accounts in Botswana.

"On all these occasions, the accused person and her couriers did not declare the money at Plumtree Border Post. They would however, declare the cash at Ramokgwebana Border Post in Botswana," said Ms Matanga.

The court heard that Davies deposited all the money into her foreign bank accounts namely Stanbic Bank (South African rand) account number 9060001687994, Stanbic Bank (Euro) account number 9060002320067 and Stanbic Bank (United States dollar) account number 9060001680000 and 9060002620435.

Investigations by police established that the exportation of the foreign currency to Botswana by Davies was done without the approval of the Reserve Bank of Zimbabwe. The money was not repatriated.

Davies together with Farid Shahadat (45) and Ryan Gregory Joseph (29) were on the police wanted list and the country had to activate Interpol in its quest to locate the trio. During the period between February 23 and April 11 this year, Shahadat, who is the director of a gold mining and milling company, Yakuts Marketing (Pvt) Ltd in Bulawayo, with the help of other couriers, crossed into Botswana and deposited a total of $1 197 080.

On April 12 and 13, Joseph deposited a total of $331 700 into his personal foreign Stanbic Bank Account. Davies is being represented by a team of lawyers comprising Messrs Admire Rubaya of Rubaya and Chatambudza Legal Practitioners, Tanaka Muganyi, Maclean Mahaso and Tinashe Runyanya all from Tanaka Law Chambers.

In July, police raided a Harare property and recovered US$4 million in cash and 98 kilogrammes of gold that was stashed in suitcases.

President Emmerson Mnangagwa last year gave an ultimatum to those who externalised funds and assets to repatriate them within three months. The ultimatum expired in February and a list of those who defied returning the funds and assets was published. At least $850 million of the looted $1,4 billion had since been returned to the country.

Source - chronicle