A Harare man is in a tight spot after the High Court issued
him with an order to explain the source of US$1 048 533 in his bank account.
Mr Jairos Giles (41), who earns US$1 600 a month as
managing director of Lapstar Logistics, has the burden to convince the State
that his transactions and source of funds were clean, after the law was invoked
to look into his income in line with the law, according to Section 37B as read
with Section 37H of the Presidential Powers (Temporary Measures) Amendment of
the Money Laundering and Proceeds of Crime Act and Exchange Control Act
regulations (Statutory Instrument 246 of 2018).
The State suspects Mr Giles is involved in illegal foreign
currency dealings and investigations are underway to ascertain if the money and
properties he acquired in a short space of time are clean.
The High Court issued an order directing Mr Giles to hand
over a written statement to the police’s Asset Forfeiture Unit explaining the
nature of his business and how the US$1 048 553 got into his CBZ Bank account.
His bank account was also frozen. Mr Giles should also explain how he acquired three
low-density immovable properties and four vehicles within a short space of
time.
He was also barred from carrying out any transactions
regarding the property in question.
This followed an ex-parte application by the National
Prosecuting Authority (NPA) seeking justification of the wealth and bank
transaction above the maximum threshold of US$10 000.
Chief law officer Mr Chris Mutangadura, who heads the Asset
Forfeiture Unit at NPA, is handling the case.
The prosecution wants the explanation, which is deemed
relevant to ongoing investigations into money laundering allegations against Mr
Giles.
Police are investigating suspicious transactions involving
Mr Giles’ bank account that saw the bank account receiving up to US$1 048 553
between April and September last year.
“Information in the docket reveals that the said bank
account received some substantial amount of money exceeding the statutory
threshold of US$10 000 thereby justifying the
granting of the order sought.
“The total amount of money transacted by the first
respondent between April 2018 and September 2018 is US$1 048 553,” reads Mr
Mutangadura’s affidavit.
From his monthly salary of US$1 600, Giles, who is a tenant
at Number 16 Lownsdale Avonlea, pays US$400 rent every month.
Prior to his employment with Lapstar, Giles had worked for
five years as a chief dealer for Dragon Bureau de Change.
Giles owns stand numbers 5892 and 5893 Crowhill, Borrowdale
worth US$63 000.
He also owns a Nissan Xtrail, registration number (AEN
4787), Nissan Tiida (AEW 0758), Toyota (777 897B) and Mercedes Benz (AEY 6720).
The State believes the wealth was ill-gotten.
“It is suspected that the money deposited into the first
respondent’s account and taken out is proceeds of some illegal activities, most
likely, illegal foreign currency exchange known as parallel or black market.
“The acquisition of property raised by the respondents
raises suspicion of commission by him of the crime of money laundering,” reads
the affidavit.
The State contends that Giles’ legitimate income can only
be proven by way of income tax declaration.
The State also wants Giles to submit any other relevant
documents justifying his wealth to the police. Herald
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