The first of two completed bail applications for 65 suspected money changers arrested over a week ago in Harare was rejected yesterday after the state began summoning investigating officers to give evidence in court.
The bail hearings of Elliot Mavura and Francis Kaunda were completed yesterday and after considering the evidence presented in the applications, Harare magistrate Ms Ethel Chichira ruled that the two were not suitable candidates for bail and remanded them in custody until 14 May.
The court will continue to hear the evidence of investigating officers today.
The suspects appeared before Harare magistrates Mr Dennis Mangosi and Ms Chishira on charges of violating the Exchange Control Act.
The State, represented by Mr. Lancelot Mutsukoti, Mr. Thomas Chanakira and Mr. Takodzwa Gambawo, opposed bail for all 65 persons on the grounds that the crime was serious and could lead to a prison sentence upon conviction.
During the incomplete hearing on the bail application of Fungai Chikonyora who is accused of violating part of the Exchange Control and Money Laundering Act, the State alleged that on April 12, Mr Alexio Chideme working for Pito Investments (Pvt) Ltd was looking for United States dollars. vs. ZiGs.
Mr Chideme contacted Nomore Mutimumwe for assistance in obtaining US dollars and he in turn contacted Chikonyora who was working in collaboration with Rumbidzai Bhushu, who remains at large.
Busho said the ZiGs given by Mr Chideme should be transferred to CBZ Bank Account No. 02324720510010 owned by TEX Boaz Investments (Pvt) Ltd.
Mr Chideme transferred ZiG340,000 from his CBZ account after agreeing to an unofficial exchange rate of ZIG18.50 per US dollar, but he never received the US dollar cash.
Evidence against some of the 65 accused includes that they were arrested with large sums of money, bank cards, debit machines and telephones which they were using to carry out illegal transactions. Announce