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Businesswoman in court over illegal forex scheme
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Harare businesswoman Tariro Masiwa Musekiwa has been hauled before the courts alongside her company, Chrisha Boutique, on allegations of running an unlicensed foreign currency transmission business involving more than US$371,000.
Musekiwa, who represented her company, appeared before regional magistrate Mrs Marehwanazvo Gofa facing two counts of contravening the Exchange Control Act. She was granted US$300 bail pending trial.
Prosecutor Mr Rufaro Chonzi told the court that between March 11 and August 28 this year, Musekiwa operated an unauthorised money transfer scheme. She allegedly collected cash from local textile retailers and used it to import clothing from Türkiye on their behalf, without the necessary approval from the Reserve Bank of Zimbabwe (RBZ).
Police detectives, acting on a tip-off, raided Chrisha Boutique's premises on August 28. Musekiwa reportedly failed to produce any RBZ authorisation and was arrested on the spot. Receipt books detailing transactions worth US$187,813.99 were seized, although no cash was recovered.
On the second count, investigators said Musekiwa ran a similar scheme at another boutique. Police arrested her alleged employee, Simbarashe Daniel Dzimba, who implicated her as the operator. Receipt books recovered from the site linked her to further unlicensed transactions worth US$183,813.99.
The matter has been remanded to a later date for trial.
Musekiwa, who represented her company, appeared before regional magistrate Mrs Marehwanazvo Gofa facing two counts of contravening the Exchange Control Act. She was granted US$300 bail pending trial.
Prosecutor Mr Rufaro Chonzi told the court that between March 11 and August 28 this year, Musekiwa operated an unauthorised money transfer scheme. She allegedly collected cash from local textile retailers and used it to import clothing from Türkiye on their behalf, without the necessary approval from the Reserve Bank of Zimbabwe (RBZ).
Police detectives, acting on a tip-off, raided Chrisha Boutique's premises on August 28. Musekiwa reportedly failed to produce any RBZ authorisation and was arrested on the spot. Receipt books detailing transactions worth US$187,813.99 were seized, although no cash was recovered.
On the second count, investigators said Musekiwa ran a similar scheme at another boutique. Police arrested her alleged employee, Simbarashe Daniel Dzimba, who implicated her as the operator. Receipt books recovered from the site linked her to further unlicensed transactions worth US$183,813.99.
The matter has been remanded to a later date for trial.
Source - The Herald
