Friday, 8 April 2022


AN illegal forex deal involving over $900 000 has backfired and landed a dealer in court where he is facing theft and money laundering charges.

Thompson Jagada was not asked to plead when he appeared before Harare magistrate, Stanford Mambanje.

He was remanded in custody to today for bail ruling. The complainant is Phillip Matiza, a retired prison officer.

Jagada is an illegal forex dealer operating at the corner of Leopold Takawira Street and Speke Avenue.

The court heard that on October 25 last year, Matiza received his lump sum pension payout of  $1 112 292, which was credited into his account.

The court heard that on November 1, Matiza had a balance of  $1 065 125,12 in his bank account.

It is alleged that the following day, Jagada hacked Matiza’s phone and got access to his bank account.

Jagada allegedly told his friend, Patrick Makondo, that he had money in his CBZ Bank account, which he needed to dispose of to get United States dollars.

Patrick Makondo called his colleague, Moses Kugara and advised him of the deal.

Kugara linked up with his friend, Ernest Maferefa, who is the director of Trade Com (Pvt) Ltd in pursuit of the proposed deal.

On November 2, last year, Stella Tariro Mazanza contacted Johanes Mapuranga, who was looking for $470 289,09, to be transferred into CBZ Bank Trust account number 01824354180010 belonging to Gundu, Dube and Pamacheche Legal Practitioners.

Jagada processed the internal transfer of the amount into the account and received US$3 700 in return.

Jagada then went to TM Pick n Pay Joina City Branch and bought bulk airtime worth $525 250, using Matiza’s account, and also processed other transactions.

On November 3, Matiza went to Choppies Supermarket in Gweru, where he intended to buy some groceries, but the transaction could not go through.

He approached CBZ Bank, in Gweru, to check if there were problems with his debit card. 

He was advised that the account had a balance of $1 800 Mutiza then requested for a printout of his bank statement and realised that all the money, which was in his account, had been used by someone else.

He then lodged a report with the CBZ Bank and investigations showed that Jagada had stolen and used the money. H Metro


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