Online Reporter
B-Metro Reporter
A BULAWAYO businessman has been arrested after allegedly masterminding a slick money-laundering scam that left a local wholesaler counting heavy losses of over US$112 000.
Police have arrested Spencer Valentines Meares (42), the owner of Wafaya (Private) Limited, over the scandal that investigators say was run through an online platform targeting Zimbabweans in the diaspora.
The platform allowed people living abroad to buy vouchers which were redeemable for goods and services at selected outlets in Zimbabwe.
According to police, Wafaya had a deal with a local wholesaler where the store would accept the vouchers and allow customers to collect goods.
However, trouble started when Wafaya allegedly failed to deposit the equivalent cash into the wholesaler’s account, despite goods worth thousands of dollars being collected.
“Investigations reveal that the suspect used different names to collect goods from the wholesaler,” said police in a statement.
Sources close to the probe told B-Metro that Meares allegedly orchestrated the scheme by using multiple individuals as fronts, making it harder for the wholesaler to trace the transactions back to him.
The racket reportedly ran for months before the wholesaler raised the alarm after noticing a huge shortfall in payments.
ZRP detectives swooped in and arrested Meares after tracking a series of suspicious transactions linked to Wafaya’s platform.
“The suspect is assisting police with investigations and will appear in court soon,” the statement read.
Police have urged businesses to tighten verification processes and avoid falling prey to similar scams.
Meares remains in custody as police continue to trace the missing funds.
