Company Loses US$5 700 in Alleged Forex Scam

A Harare man has appeared in court facing fraud allegations after allegedly duping a South African-registered company of US$5 700 in a botched foreign currency exchange deal.

Anwell Mhashu of Westgate, Harare allegedly misrepresented that he had a consignment he wanted to pay for in South Africa before asking the company to make a payment on his behalf.

According to court papers, the complainant, Vanisco Investments, represented by its director Darrel Tapiwanashe Kabade, was approached by Mhashu on October 8, 2026.

The court heard that Mhashu allegedly asked the company to deposit R93 800 into an ABSA Bank account, promising to give it the equivalent amount in United States dollars.

Believing that Mhashu was a genuine businessman, the company agreed to facilitate the transaction.

On October 9, 2026, at around 10.15am Vanisco Investments transferred R93 800 from its First National Bank account into the specified ABSA Bank account.

However, Mhashu allegedly failed to pay the promised United States dollars and instead began giving excuses when the complainant sought to recover its money.

Further inquiries reportedly revealed that Mhashu did not have the consignment he had claimed to be paying for in South Africa and allegedly did not have the equivalent amount in United States dollars.

The company subsequently reported the matter to the police.

The alleged offence resulted in a prejudice of R93 800 equivalent to approximately US$5 700 with nothing recovered.

Mhashu was granted US$100 bail and ordered to reside at his given address.

He was also ordered to report once a week, every Friday, at Harare Central Police Station’s Commercial Crime Department as part of his bail conditions.