Two illegal forex traders denied bail – 63 others remain in custody
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By Staff Reporter
Two of the 65 suspected money changers have had their bail hearing concluded and were denied bail by Harare magistrate Ethel Chichera.
The other 63 remain in custody as the State still intends to call the evidence of the investigating officers in their cases.
Ruling on remaining cases will be handed down from Thursday onwards.
Those denied bail on Tuesday are Elliot Mavhura and Francis Kaunda.
The magistrate said bail is now a “Constitutional right” but the two should remain locked up because they are facing a serious offence.
The suspects are appearing before Chichera and Dennis Mangosi Mangosi respectively.
They are accused of contravening the Exchange Control Act.
The 65 were arrested after the police launched a blitz a few days after the Finance minister, Mthuli Ncube vowed to clamp down on illegal forex dealers.
They all deny the allegations.
Some insist they were involved in a dragnet arrest and have nothing to do with forex trading.
