Chinese money changers freed on US$500 bail

Posted by Tayana

Three Chinese nationals Fang Wei, We Huanjiu and Wei Wei who are facing charges of contravening the Exchange Control Act were released on US$500 bail. 16 other money changers were granted US$100 bail each.

The three Chinese nationals were found in illegal possession of $50 000 in bond notes. Detectives received information that the three suspects were selling cash at a premium. Acting on the tip off, detectives monitored the activities of the accused persons and on 3 October, they saw the one of the accused loading his vehicle with sealed card boxes.

They followed the vehicle and intercepted it and upon searching the vehicle they recovered $50 000 bond notes. The accused implicated the second and third suspects leading to their arrest.

More: ZBC

 

Bond Notes

Bond Notes are a currency of notes backed by a bond that the Zimbabwe government announced on 4 May 2016 by Reserve Bank of Zimbabwe (RBZ) governor John Mangudya. The $2 denomination of the notes was finally introduced on 28 November 2016. More notes were... Read More About Bond Notes

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One Comment

  1. Dr Mboro Yamira says:

    The Chinese print it on their own and sell it to get the scarce US$. Those are the results of Mugabe the devil’s Look East Policy.

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