10 illegal foreign exchange traders arrested in Harare last month have been denied bail, amid fears they will escape prosecution, with the chief judge saying the defendants have a case to answer.
The Harare Magistrates Court indicated that the suspects were economic saboteurs who were undermining the efforts of the government and the Central Bank to achieve economic stability.
The co-defendants are part of a group of 65 illegal Forex traders who were arrested during a sting operation by the Federal Reserve Bank’s Financial Intelligence Unit.
The other suspects remain in custody awaiting bail.
They are accused of violating the exchange control law. zbc
