Online Reporter
Dalyn Chigwizura [email protected]
A 42-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.
Dancken Mwinde of Entumbane 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 June 5 to pay the fine.
The prosecutor, Mr Tafara Dzimbanhete, told the court that on April 27, at around 2 PM, police detectives conducting an operation code-named “Iron Net” at Entumbane Shopping Complex observed Mwinde engaging in suspected illegal foreign currency transactions.
The detectives approached the accused and found him in possession of a POSB Bank point-of-sale machine, point-of-sale banking slips, a Samsung Galaxy cellphone, and cash amounting to US$78 and R643, said Mr Dzimbanhete.
The court heard that Mwinde was using the point-of-sale machine and a 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.
