Online Reporter
Dalyn Chigwizura Court Reporter
A 20-YEAR-OLD Bulawayo man has been fined US$200 or six months in prison after he was caught illegally dealing in foreign currency during a police operation targeting illicit financial activities.
Mitchel Noah of Pumula South suburb was convicted on his own plea of guilty to contravening provisions of the Exchange Control Regulations Act by Western Commonage Magistrate, Jeconia Prince Ncube. He was given until 5 June to pay the fine.
The prosecutor, Mr Tafara Dzimbanhete told the court that on 27 April at about 2PM, police detectives conducting an operation code-named “Iron Net” at Entumbane Shopping Complex spotted Noah engaging in suspected illegal foreign currency transactions.
“The detectives approached the accused and found him in possession of an AFC Bank point-of-sale machine, a Nokia 106 cellphone and cash amounting to US$40 and R2 891,” said Mr Dzimbanhete.
The court heard that Noah was using the point-of-sale machine and mobile phone to exchange United States dollars for ZiG currency on behalf of clients without the required authorisation.
Upon being questioned, he failed to produce a valid licence permitting him to deal in foreign currency, leading to his arrest.
Further investigations strengthened the State’s case after the recovered Nokia 106 handset was sent to a forensic science cyber laboratory, where analysis revealed text messages and images of transaction receipts linked to illegal currency exchanges.
The AFC Bank point-of-sale machine was also examined at ZB Bank, with records indicating that it had processed multiple transactions over a period of time.
Illegal foreign currency trading is a criminal offence in Zimbabwe, with both police and the Reserve Bank of Zimbabwe intensifying crackdowns to stabilise the financial system and curb parallel market activities.
