Zimbabwe: Money Laundering Suspect Arrested After 'Suspicious' Spending Spree Granted Bail

29 October 2024
New Zimbabwe (London)

A 29-year-old Chitungwiza man, Ishmael Shayanewako arrested last week on money laundering charges has been granted US$500 bail.

Shayanewako was arrested following his suspicious spending spree, which saw him purchasing a Toyota Hilux GD6 vehicle for US$36,000 and a five-room house in Manyame Park valued at US$27,000.

He appeared before Harare regional magistrate Marehwanazvo Gofa who freed him on stringent reporting conditions.

Prosecutor Anesu Chirenje alleged that detectives from CID Chitungwiza received information about Shayanewako's lavish spending on October 23, leading to his arrest while driving his new vehicle.

A search of the vehicle revealed a purse containing R198,800.

Shayanewako was unable to provide a satisfactory explanation for the source of his funds, and further investigations revealed that the cash and property recovered were likely proceeds of crime.

He will return to court on December 20, pending the finalization of investigations.

Read the original article on New Zimbabwe.

Tagged:
Copyright © 2024 New Zimbabwe. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 500 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.