Monday, 30 May 2022

BUSINESSMAN NABBED OVER 2020 FOREX DEAL

A HARARE businessman has appeared in court on allegations of being involved in illegal foreign currency deals of over US$40 000.

Benjamin Funani, the managing director of Global Turbo and Diesel, appeared before Harare magistrate, Yeukai Dzuda, who remanded him to June 30.

The court heard that in November 2020, Funani connived with the chief executive officer of Mberengwa Rural District Council, Thomson Maeresera, and Executive Officer (Finance) Joice Gumbo of Mberengwa Rural District Council to trade US$40 784 of Council money,  sourced from ratepayers, which the company bought at a black market rate of $102 to the US dollar.

They allegedly made four transfers of over $200 000 from Global Turbo and Diesel into Mberengwa Rural District Council’s bank account.

The State alleges the two companies were not licensed to deal in foreign currency and violated the Exchange Control Act.

Anesu Chirenje appeared for the State. H Metro

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