Gweru forex dealers sentencing set for today

Taboka Tshuma, Sunday News Reporter

TWO illegal forex dealers from Gweru who yesterday (Thursday) pleaded guilty to illegally dealing in foreign currency are set to learn their sentence today.

The duo, Richard Tafuma and Patrick Takundwa, were reportedly caught red-handed illegally dealing in forex and were subsequently charged with violating section 5(1)(a)(11) of the Exchange Control Act chapter 22:05 and 4(2) of SI 245 of 2018 “dealing in currency”.

According to a statement from the National Prosecuting Authority of Zimbabwe, the two accused pleaded guilty to the charge when appearing before the Gweru Magistrate court.

“The accused persons were arrested for illegally dealing in foreign currency. The State alleges that on 3 August, the accused were observed exchanging US$70 for ZiG1 550 at a rate of US$1 is to ZiG22. Police officers recovered an itel A 56 cell phone, five bank cards, US$1 395 and US$70,” read the statement