By Judith Nyuke
Two men have been arraigned before a Harare Regional magistrate after making a USD$2 632 500 payment outside Zimbabwe without the authority of the Reserve Bank of Zimbabwe.
Ipaishe Richman Madziwa (29), Willmore Nyama (29) appeared before Harare magistrate Musaiona Shortgame charged with violating the Exchange Control Act.
The matter was remanded to 5 December, 2025.
The State alleges that on 13 of November 2025 Detectives from CID Asset Forfeiture Unit were deployed on operation “Pressure Valve”, with the mandate of detecting money laundering activities and Illicit financial violations in the fuel sector and arrest perpetrators thereof.
A raid was carried out at accused persons four business premises and established that during the period from January 2025 to 13 November 2025 accused persons imported 2 050 000 litres of fuel both diesel and petrol.
The Court heard that the accused persons made off shore payments of the imports without the approval of the Reserve Bank of Zimbabwe Exchange Control thereby violating the Exchange Control Act.
Further allegations are that, the source of funding is unknown thereby raising suspicion of money laundering activities.
A search was conducted and cash was recovered in a safe at 11F Market street, Eastlea, Harare.
It is the State’s case that the total value involved is USD$2 632 500-00 and USD $20 950-00 was recovered.
