Police yesterday reportedly arrested Harare businessman Neville Mutsvangwa on allegations of illegal forex dealings.
Sources, however, said Mutsvangwa was picked up from his Mount Pleasant home by detectives from the Criminal Investigations Department’s Commercial Crimes Division on allegations of illegally trading in foreign currency.
CID spokesperson Detective Assistant Inspector Rachel Muteweri could not comment last night while national police spokesperson Assistant Commissioner Paul Nyathi said he was still to get details and could only comment today.
The Herald is reliably informed that police swooped on Mutsvangwa after he appeared to advertise the ZiG black market selling exchange rate of 18,5 to the US dollar, on his WhatsApp status.
Mutsvangwa’s arrest came as authorities intensify efforts to crack down on illegal money changers.
Police have arrested over 100 illegal currency traders, including 65 in Harare, who are still in custody pending the conclusion of investigations and prosecution.
They are facing charges of contravening the Exchange Control Act.
The Government has vowed to rid the streets of black market money changers to thwart speculative activities which might lead to devaluation of the local currency.
Source: Herald
