News / National
Armed robbery charges dropped
05 Jul 2025 at 04:02hrs | Views
After intense back-and-forth between the police and the National Prosecuting Authority (NPA), prosecutors have dropped armed robbery charges against two men previously linked to the sensational US$4 million cash heist at an Ecobank branch in central Bulawayo last year.
One of the suspects, whose identity was not immediately confirmed, appeared in court shackled in leg irons but was released after charges were withdrawn.
His co-accused, Sibonginkosi Sibanda (49), of Cowdray Park and an employee of Safeguard Security, was not so lucky - he now faces charges of money laundering, according to the NPA.
Prosecutors allege that Sibanda used suspicious funds to acquire three houses - two in Cowdray Park and one in Mbundane - as well as a Hino truck, a Honda Fit vehicle, and fencing for his rural homestead in Insiza worth US$7,600.
The NPA is questioning Sibanda's source of wealth, which is believed to be inconsistent with his earnings as a security guard.
The robbery, which took place on October 3, 2023, was one of the most daring in Zimbabwe's history. Armed robbers pounced on Safeguard guards outside the Ecobank NRZ Building branch, grabbing trunks of cash in broad daylight before escaping in a Ford Ranger. The heist, captured on CCTV, was executed in under 149 seconds.
Sibanda's arrest came after months of investigation, but no direct link to the robbery has been established so far. However, authorities believe the sudden spike in assets acquired by Sibanda following the robbery warranted a forensic financial investigation.
The case is ongoing, with Sibanda expected to return to court soon as prosecutors dig deeper into his financial dealings. Police say further arrests or asset seizures could follow, depending on the outcome of ongoing investigations.
One of the suspects, whose identity was not immediately confirmed, appeared in court shackled in leg irons but was released after charges were withdrawn.
His co-accused, Sibonginkosi Sibanda (49), of Cowdray Park and an employee of Safeguard Security, was not so lucky - he now faces charges of money laundering, according to the NPA.
Prosecutors allege that Sibanda used suspicious funds to acquire three houses - two in Cowdray Park and one in Mbundane - as well as a Hino truck, a Honda Fit vehicle, and fencing for his rural homestead in Insiza worth US$7,600.
The NPA is questioning Sibanda's source of wealth, which is believed to be inconsistent with his earnings as a security guard.
The robbery, which took place on October 3, 2023, was one of the most daring in Zimbabwe's history. Armed robbers pounced on Safeguard guards outside the Ecobank NRZ Building branch, grabbing trunks of cash in broad daylight before escaping in a Ford Ranger. The heist, captured on CCTV, was executed in under 149 seconds.
Sibanda's arrest came after months of investigation, but no direct link to the robbery has been established so far. However, authorities believe the sudden spike in assets acquired by Sibanda following the robbery warranted a forensic financial investigation.
The case is ongoing, with Sibanda expected to return to court soon as prosecutors dig deeper into his financial dealings. Police say further arrests or asset seizures could follow, depending on the outcome of ongoing investigations.
Source - onlinw
