Tanzania: Ex-Exim Official to Pay 130m/ - Fine

FORMER official with Exim Bank, Neema Kinabo (30), has been sentenced to pay 130m/- or go to jail for five years for laundering money amounting to 125,885 US dollars deposited with the bank for various tourist services for tour operators in Arusha.

This follows the decision by Resident Magistrate-in- Charge at the District Court of Arusha, Desdery Kamugisha to convict the ex-Operation Manager with the bank's Arusha Branch, on her own plea of guilt to the count charged contrary to section 3 (k), 12 (a) and 13 (a) of Money Laundering Act.

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