Harare | Neville Mutsvangwa was denied bail and returned to remand prison yesterday after a magistrate ruled that he posed a high flight risk and could sustain himself outside the country if released. Arrested last week, Mutsvangwa’s bail application was rejected by Magistrate Dennis Mangosi.
Mutsvangwa, alongside accomplices Ellis Majachani and Simbarashe Tichingana, faces charges of money laundering and illegal foreign currency trading. Additionally, he is accused of violating the Telecommunications Act.
Magistrate Mangosi noted the significant risk of Mutsvangwa fleeing, especially since he had evaded the police during a raid at his home. Evidence suggested he was involved in foreign currency dealings, as 28 bank cards from various countries were discovered by the police.
In his defense, Mutsvangwa claimed he had legitimate funds abroad which he used to purchase items for others in exchange for cash. His lawyer, Josephine Sande Chimombe, argued that Mutsvangwa hid from the police out of fear after being threatened, not to evade arrest.
The State alleges that between January 1, 2019, and May 8, 2024, Mutsvangwa and his co-accused illegally operated Mumba Money Transfer Services without a license, violating the Bank Use Promotion and Suppression of Money Laundering Act and the Exchange Control Act.
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They allegedly advertised online, directing clients to their Harare office, and used a mix of electronic funds transfers and physical cash to conceal their operations.
Police seized four smartphones, 45 SIM cards, four computers, a POS machine, 28 debit cards (including 15 VISA cards from foreign banks), three money counters, transaction records, and US$3,890 in cash during the raid.
Thomas Chanakira represented the State in this case.
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