Forex dealer nabbed with $70 000 in hard cur­rency

Chronicle (Zimbabwe) - - Front Page - Codelia Mon­dela

A BU­L­AWAYO il­le­gal for­eign cur­rency dealer has been ar­rested for al­legedly pos­sess­ing more than $70 000 in var­i­ous cur­ren­cies.

The money, which in­cluded R436 210, $14 229 in bond notes, US$12 055 and P1 720, was re­cov­ered stashed in­side the load­ing box of his car, a Toy­ota Hilux.

Brine Matarutse (33) of Njube sub­urb was ar­rested by de­tec­tives last week for al­legedly deal­ing in for­eign cur­rency.

Matarutse ap­peared be­fore Bu­l­awayo mag­is­trate Ms Nyarai Ringi­sai fac­ing charges of con­tra­ven­ing a sec­tion of the Ex­change Con­trol reg­u­la­tions. He pleaded not guilty to the charges and was re­manded out of cus­tody to Novem­ber 21 on $100 bail.

The pros­e­cu­tor, Mr Car­ring­ton Dh­li­wayo said on Novem­ber 9 this year de­tec­tives re­ceived a tip-off that Matarutse was car­ry­ing a huge amount of money in var­i­ous cur­ren­cies. They found him stand­ing near his car, which was out­side Tred­gold Mag­is­trate’s Court.

“When po­lice ar­rived at the scene, they found the ac­cused per­son car­ry­ing some money and mov­ing around flap­ping it. They took him to the po­lice sta­tion and searched his car where they found $12 055, R436 210, $14 229 bond notes and P1 720 hid­den in the ve­hi­cle load­ing box,” said Mr Dh­li­wayo.

The court heard that on be­ing in­ter­viewed Matarutse ad­mit­ted that he was a cur­rency dealer. He told the court that the money be­longed to his clients who sup­plied him with cash.

In Septem­ber, six sus­pected il­le­gal money chang­ers in Bu­l­awayo be­came the first to be charged un­der a new law that crim­i­nalises buy­ing and sell­ing forex.

Maritha Ncube (32) of Loben­gula West, Ce­lestino Pan­ganai and David Mad­aba both from Cow­dray Park, Enias Dzi­na­vanhu from Nketa 9, For­tune Mhenyu (37) and Nyasha Museka (34) both from Makokoba ap­peared be­fore Bu­l­awayo mag­is­trate Mr Ti­nashe Tashaya.

There cases are pend­ing be­fore the court.—@ Mon­de­laC

rescis­sion of the judg­ment.

He ar­gued that the sum­mons is­sued un­der case num­ber HC 2186/17 were wrong­fully served at his for­mer em­ployer’s of­fices when he had al­ready left the law firm.

“The re­spon­dent (Mr Si­wawa) knew my res­i­den­tial ad­dress in Lu­veve 5 be­cause he once vis­ited my fam­ily some­time in July 2017 be­fore the sum­mons were is­sued. I ceased to be an em­ployee of Shenje and Com­pany in De­cem­ber 2014. I was not served with the sum­mons nei­ther was I in­formed by Mr Shenje on the ex­is­tence of the sum­mons,” said Nyengera.

He said he only got to know of the sum­mons through a news­pa­per ar­ti­cle. Nyengera dis­puted that he swin­dled Mr Si­wawa of his money.

“Mr Si­wawa and the pur­ported owner of the house pro­duced iden­tity doc­u­ments and I sim­ply recorded their agree­ment in writ­ing.

“The pur­ported owner of the house also pro­duced ti­tle deeds for the house and Mr Si­wawa in­di­cated that he had checked at the deeds of­fice re­gard­ing the own­er­ship of the house and vis­ited the Bu­l­awayo City Coun­cil and Zesa of­fices to ver­ify,” he ar­gued.—@ mash­nets

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