Mutsvangwa, along with Ellis Majachani and Simbarashe Tichingana, faced the court for the continuation of their bail application following a weekend spent in remand prison. The trio is accused of money laundering and engaging in foreign currency trading, with Mutsvangwa facing additional charges under the Telecommunications Act.
The defendants appeared before Harare magistrate Dennis Mangosi on Friday, with the hearing postponed to the present day due to time constraints.
According to sources, Mutsvangwa was apprehended from his Mount Pleasant residence by detectives from the Criminal Investigations Department’s Commercial Crimes Division on allegations of illicit foreign currency trading.
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Mutsvangwa’s arrest comes amidst intensified efforts by authorities to crackdown on illegal money changers. Over 100 individuals involved in illegal currency trading have been apprehended by the police, with 65 arrests made in Harare alone. These individuals remain in custody pending the conclusion of investigations and subsequent prosecution, facing charges of contravening the Exchange Control Act.
The government expressed determination to eliminate black market currency trading to prevent speculative activities that could lead to the devaluation of the local currency.
