Illegal money changers released on bail

MASVINGO High Court judge, Justice Garainesu Mawadze, has ordered the release of two illegal money changers who had spent two months in prison after being denied bail by a Gweru provincial magistrate.

Abraham Mafukidze (24) and Julius Nyamapfeni, who are facing charges of illegally dealing in foreign currency were granted US$50 bail.

The ruling by Justice Mawadze follows an application for bail pending trial by Mafukidze and Nyamapfeni through their lawyer, Mr Esau Mandipa of Mandipa, Makwara and Chikukwa Legal Practice.

In papers before the court, the State was cited as a respondent.

As part of the bail conditions, Justice Mawadze ordered Mafukidze and Nyamapfeni to continue residing at their given addresses and not interfere with State witnesses until the matter is finalised.

“Both accused persons be and are hereby admitted to bail on conditions that each appellant pay a deposit of US$50 or its equivalent with the Clerk of Court at Gweru Magistrates’ Court. Both appellants should reside at their given addresses and shall not interfere with witnesses and investigations,” he said.

It is the State case that on April 23 at around 11.30am, police officers were on an operation at Chicken Inn in Gweru targeting illegal money changers when they spotted the two accused persons making a transaction.

Mafukidze received US$2 from Nyamapfeni who made an electronic money transfer into his account.

Police officers approached the two men and intercepted them as Nyamapfeni was about to give Mafukidze US$2 leading to the pair’s arrest and subsequent recovery of the money that was given to Mafukidze including the two cellphones used in making the transaction.

So far, police have arrested 224 illegal money changers in a blitz that has also seen the Reserve Bank of Zimbabwe’s Financial Intelligence Unit (FIU) freezing 90 bank accounts.

Apart from freezing bank accounts, the FIU has also fined more than 40 people who have been found on the wrong side of the law by violating the Exchange Control Act.

Police, working closely with the FIU, the Ministry of Finance, Economic Development and Investment Promotion, and the Zimbabwe Anti-Corruption Commission, have been targeting illegal money changers in the aftermath of the introduction of the Zimbabwe Gold (ZiG) currency in April.

Money changers have been a menace on the country’s streets, flagrantly violating Section 14(1) of the Bank Use Promotion and Suppression of Money Laundering Act and the Exchange Control Act, which criminalises illegal dealings in foreign currency.