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NewsDay

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2 forex dealers jailed

Local News
Maketo and Sakonda were initially sentenced to six months in prison each and three months were suspended for five years on condition of good behaviour.

TWO illegal foreign currency dealers, who were arrested while changing money, have been sentenced to six months in jail.

The two, Kudakwashe Welcome Maketo (24) and Ishmael Munashe Sakonda (29), were convicted separately by Harare magistrate Ruth Moyo last week.

Maketo and Sakonda were initially sentenced to six months in prison each and three months were suspended for five years on condition of good behaviour.

Prosecutor Mandirasa Chigumira proved that the duo committed the offences after telling the court on August 1 this year, policemen spotted Maketo at Kamunhu Shopping Centre in Mabvuku offering to buy foreign currency from passers-by with local currency.

A team of detectives armed with trap money, approached Maketo to exchange US$20 at the rate of US$1 per ZiG16. Maketo transferred ZiG320 from his mobile number to a detective for US$20.

Meanwhile, on July 29 this year, detectives received information that Sakonda was illegally dealing in foreign currency at Glen Norah B shops and took with them US$20 as trap money.

They approached Sakonda purporting to be looking for ZiG to swipe for groceries in exchange of United States dollars. Sakonda stated that his black market rate was US$1 to ZiG17.

He gave the detectives a bank card a swipe for groceries and he was given a US$20 note.

Sakonda was subsequently arrested and the trap money was recovered.

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