HARARE businessman, Neville Mutsvangwa who is accused of illegally dealing in foreign currency, has been denied bail.

Mutsvangwa and his two alleged accomplices; Elisse Majachani and Simbarashe Tichingana were denied bail after the court ruled that they are people of means who might abscond trial.

He added that there is also overwhelming evidence that the accused were illegally dealing in foreign currency, which is a serious offense.

They were remanded in custody to May 30, pending further investigations.

The trio is charged with contravening the Exchange Control Act, Unlawfully Trading in Cash and Money Laundering.

They are accused of operating an unregistered money transfer company, Mumba Money Transfer, for over four years which they used to illegally transfer money for clients.

In addition, Mutsvangwa is also facing charges of contravening the Postal and Telecommunications Act after he allegedly used a starlink internet router without a licence.

The court heard that police recovered a starlink router which was already installed and in use.

ZBC News