Africa-Press – Zimbabwe. A HARARE-BASED businessman appeared in court yesterday facing allegations of facilitating a money-laundering scheme involving the importation of Naphthalene from South Africa.
Peter Bhachi, a director of Tamir Customs Clearing (Pvt) Ltd, appeared before Harare magistrate Jessie Kufa to answer to charges of contravening the Exchange Control Act and the Money Laundering and Proceeds of Crime Act.
Prosecutors allege that between April 1 and May 8 last year, Bhachi was involved in suspicious transactions worth US$368 695,65.
The State claims that Bhachi used his company to import goods despite not being registered as an importer with the Reserve Bank of Zimbabwe.
According to the prosecution, Bhachi and his accomplices allegedly imported Naphthalene from South Africa using fraudulent documents in an attempt to launder money and legitimise the transactions.
The scheme reportedly involved Ledim Investments (Pvt) Ltd, which allegedly received the imported goods.
Bhachi was arrested on August 19 last year and was granted US$200 bail.
Two other suspects, who were also arrested, reportedly implicated Bhachi in the alleged scheme.
Further investigations revealed that the transactions were not processed through the exchange control system, and the source of the funds used for the imports could not be verified.
The amount involved in the scheme is US$368 695,65, with authorities saying nothing has been recovered so far.
Bhachi is expected to return to court for continuation of trial.
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