Zimbabwe’s rich stashing money at homes

poshy borrowdaleFrom MARCUS MUSHONGA in Harare, Zimbabwe
HARARE, (CAJ News) – A MAN said to be a relative of President Mugabe is to appear in court for alleged money laundering after $20 million (R320 million) was found stashed at a mattress in his home.
Richard Nzou (28) , son of an unnamed cabinet minister, was arrested after police made the discovery at his apartment in Avondale in the capital Harare.
He is to appear to in a Harare court on Thursday to answer to other changes including theft, fraud and corruption.
Nzou has initially appeared in court but had not been asked to plead.
The discovery of the hard currency at his home comes at a time Zimbabwe’s banks are running short of cash.
The rich and elite including ministers have been accused of secretly keeping foreign currency at their homes to counter the newly introduced bond notes that are worthless.
It is thus believed the arrest of the suspect is a tip of the iceberg.
Zimbabwe is struggling economic problems.
Its Dollar, formally at par with the currency of colonial master Britain is now defunct because of record inflation.

Short URL: http://cajnewsafrica.com/?p=17768

Posted by on Jan 30 2017. Filed under Finance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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