Online Reporter
Prosper Dembedza
Herald Correspondent
A Chinese company has appeared before Harare magistrate Mrs Marehwanazvo Gofa, facing money laundering charges involving US$167 058,52.
Vorivet Investments (Pvt) Ltd, represented by Tichaona Tikwani (39), was granted US$ 500 bail pending finalisation of investigations.
Vorivet Investments (Pvt) Ltd is a registered company operating from 19 Bessemer, Graniteside, Harare. It is in the business of manufacturing plasticware.
Prosecutor Mr Rufaro Chonzi told the court that preliminary investigations revealed that during May this year, the company imported Naphthalene from South Africa, valued at US$167 058,52.
The imports were cleared by Zimbabwe Revenue Authority (ZIMRA) at the border entry. The court heard that, according to the Reserve Bank of Zimbabwe Exchange Control, the company is not a registered importer, meaning that the accused evaded payments for its imports through the formal banking system.
Chonzi further told the court that the company’s source of funds is not known, thereby raising suspicion of money laundering.
Online Reporter