06/10/2017

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



Related Posts Plugin for WordPress, Blogger...Three Chinese nationals and 22 others arrested in Zimbabwe over illegal money dealsIn 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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