Friday, 6 October 2017

Three Chinese nationals and 22 others arrested in Zimbabwe over illegal money deals

Three Chinese nationals and 22 others arrested in Zimbabwe over illegal money deals

In a new crackdown on the black market, Three Chinese nationals and 22 other suspected illegal money-changers have been arrested in Zimbabwe's capital, Harare and more than $55,000 (£41,500) seized

Prosecutor, Francesca Mukumbiri says the group has been charged with contravening the Exchange Controls Act after they were caught "red-handed ilegally trading money", If convicted they would
face a lengthy prison sentence.

Zimbabwe is in a deep economic crisis, forcing it to abandon its currency in favour of foreign currencies.  However, it has run out of US dollars and introduced bond notes as a substitute. The group was allegedly caught with bond notes, dollars, and the currencies of South Africa, Botswana and Tanzania.


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