The trio is answering to criminal charges for dealing in
foreign currency generated from at least $210 475 688 between January and June
2020.
The three include Access Finance boss Raymond Chigogwana,
Esau Bwerinofa director of Chemmodities Trading Private Limited and Takudzwa
Rafemoyo.
Justice Pisirayi Kwenda admitted Chigogwana and Bwerinofa,
who had spent more than three weeks in remand prison, to $200 000 bail each.
Rafemoyo was ordered to pay $50 000.
As part of the bail conditions each of the suspects was
ordered to remain resident at their given address, not to interfere with
witnesses and surrender their passports and title deeds to one immovable
property as surety.
Prosecuting, the State had it that a number of senior
managers from various companies were illegally dealing in foreign currency
heavily contributing to the weakening of the Zimbabwean dollar against major
currencies on the alternative market.
Allegations are that one of the companies had allegedly
employed 429 forex dealers who operated in a “mafia like modus operandi”
involving “a complicated syndicate with other known companies that are under
probe.”
The State alleged that the institutions were allegedly
still trading using the EcoCash bulk payer lines.
Dream High Investments, represented by Tinashe Paradise
Magada, is alleged to have transferred $143 669 348 while Access Finance
(Private) Limited allegedly transacted $185 420 444.
Tererati (Private) Limited owned by Samuel Tererai Chiodze
is said to have transacted $125 722 079 while Capital Profit Financial Services
represented by Taitus Tapiwa Madzara, allegedly transacted $59 237 733.
Raymond Mudonhi Investment (Private) Limited, Justice
Mahuni, Kudzai Mudonhi and Juso Global Limited Justice Mahuni allegedly
illegally traded $150 128 765.
Dream High Investments, received $143 669 348 from
different companies and individuals, which it then transferred using the
EcoCash bulk payer line to agents who would buy forex on their behalf from the
streets.
Access Finance, which is registered as a bureau de change,
is alleged to have bought various Econet lines which it would give to various
agents, who in turn used them to buy foreign currency on the streets.
It is alleged that its conduct was against the Reserve Bank
of Zimbabwe financial regulations. Vision Credit Source Pvt Ltd was jointly
charged with Takudzwa Godwin Rafemoyo (42) for illicitly buying foreign
currency worth $192 million.
Rafemoyo allegedly opened a bank account for Vision Credit
with Steward Bank before registering five separate EcoCash agent lines, which
were then used as conduits to move the money to various buyers.
Between January 16 and May 7 the same year, he transferred
$49 million into one of his agent lines before transferring another $49 million
into the other lines “for the purpose of buying foreign currency on the black
market”.
He went on to transfer amounts ranging between $2 million
and $9 million into the other lines for the same reason. H Metro
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