Harare businessman Neville Mutsvangwa and his two accomplices, facing three criminal charges of illegal foreign currency dealings, were yesterday denied bail and remanded in custody to May 30.
Mutsvangwa faces a fourth charge of possessing a Starlink internet router without a licence.
Mutsvangwa, Simbarashe Tichingana and Elis Majachani appeared before Harare magistrate Mr Dennis Mangosi, who denied them bail on the grounds that they could be tempted to abscond.
Mr Mangosi said it was not disputed that police found overwhelming evidence that the company, Mumba Money Transfer owned by Mutsvangwa, was an unregistered entity dealing in foreign currency.
Police also had difficulties in arresting him, with Mr Mangosi adding that Mutsvangwa had connections and could sustain a livelihood outside the country hence was a flight risk.
However, Mr Mangosi quashed the State's argument that the suspects had potential to interfere with witnesses.
The court heard evidence from investigating officer Detective Inspector Blessing Mandizha, who said Mutsvangwa refused to admit police to his house on May 9. Tichingana came to the house and pretended to be a neighbour and when his phone was searched, it showed that it contained some transactions pertaining to Mumba Money leading to his arrest.
The other team of detectives visited the Mumba Money Transfer Office in the city centre where Majachani was serving clients. Police recovered US$3 890 cash, some computers, a register of the transactions and over 20 Visa cards.
The State opposed bail on the grounds that the three were facing serious charges, especially money laundering. Mutsvangwa first denied police entry to his Mount Pleasant house, and when police cut his electric fence and climbed over his gate, they had to search for him and eventually found him hiding between a precast wall and a pile of sacks containing waste.
There was no justification for hiding and it was indicative of his unwillingness to stand trial, the State argued.
Mr Thomas Chanakira and Ms Ruvimbo Matyatya prosecuted.
The suspects are represented by their lawyers, Mrs Josephine Sande Chimombe and Mrs Mable Tarugarira.
They indicated that they will now appeal against the refusal to grant bail at the High Court.
