ONE of the three suspects on the police wanted list for externalising US$ 7,3 million dollars has appeared at the Harare Magistrates’ Court and charged with siphoning over US$1.2 million out of the country.
Farid Shahadat (45), the director of a gold mining and milling company, Yakuts Marketing (Private) Limited, appeared before Harare Magistrate Josephine Sande facing charges of contravening sections of the Exchange Control Act. Magistrate Sande granted Shahadat a $1 500 bail and remanded him to 31 September 2017.
Prosecutor Linda Gadzikwa told the Court the suspect being a holder of Botswana Stanbic Bank United States dollar accounts managed to externalise US$1 197 580.00 during the period between 1 January 2017 and 30 April 2017.
Shahadat, according to the State, committed the alleged offences in his personal capacity and through other couriers and deposited the money in his Stanbic and Capitec Bank accounts in Botswana.
The alleged couriers Christian Paul Van Beek, Sandra Mathews and Sharon Shahabat deposited vatious amounts of US dollars into several of Farit Shahadat’s Stanbic Botswana bank accounts.
The opening of the foreign currency accounts and the subsequent export of currency to Botswana were done without the approval of the Reserve Bank of Zimbabwe (RBZ).
The State has provided that a bank statement in respect of the deposits made in Botswana by the suspect will be brought court as part of the evidence. Statements from RBZ officials stating that they did not approve the movement of the foreign currency to Botswana will also help to build the State case against the businessman.
Shahadat was represented by Advocate Lewis Uriri.
The investigations are part of the ongoing efforts by the government to curb the current liquidity and cash crisis. The other suspect linked to this case are Delny Deanna Ashley Davies (41) and Ryan Gregory Joseph (29). zifmnews.com
