Munyaradzi Mashiri- Court Correspondent
A prominent local businesswoman and her company have appeared in court over allegations of illegally operating a foreign currency transmission business in violation of national financial laws.
Tariro Masiwa Musekiwa, director of Chrisha Boutique Pvt Ltd, is facing two counts of contravening the Exchange Control Act after allegedly conducting foreign currency transactions amounting to US$371 626 without authorisation from the Reserve Bank of Zimbabwe.
Appearing before magistrate Marehwanazvo Gofa, Musekiwa, who represented the boutique, was granted bail of US$300 pending trial.
According to the State, led by prosecutor Rufaro Chonzi, Musekiwa is accused of conducting unlicensed forex dealings between March 11 and August 28 this year.
During this period, she allegedly received cash from several individuals in the textile retail sector to facilitate the procurement and importation of textile goods from Turkey.
However, investigators say the transactions were conducted without RBZ licensing, effectively amounting to illegal money transmission operations.
The alleged scheme was uncovered on August 28 when police detectives, acting on a tip-off, visited Musekiwa’s business premises.
She reportedly failed to produce documentation authorising the transactions.
Receipt books believed to have been used to record the dealings were confiscated, with the total value pegged at US$187 813.99.
No cash was recovered.
The case later widened following a separate police operation a month later. On September 28, police arrested Simbarashe Daniel Dzimba, linked to another boutique allegedly associated with Musekiwa.
During interrogation, Dzimba named Musekiwa as his employer.
Further searches led to the recovery of additional receipt books showing a similar pattern of unlicensed transactions.
This second operation allegedly generated another US$183 813.99 in forex dealings, also without RBZ approval. Again, no physical money was recovered.
Musekiwa is expected to return to court for trial.
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