Botswana authorities mum on Zim money laundering case


The Botswana Police Services (BPS) does not seem interested and is not following the case in which about P70 million is alleged to have been laundered into banks in Botswana by three Zimbabwean businessmen this year.
When he was asked about the case, Deputy Police Spokesperson Dipheko Motube appeared clueless on the matter, only saying if suspects in the matter were arrested in Zimbabwe, authorities in that country were better placed to comment.
According to reports, three suspects were recently granted bail by Zimbabwean courts after allegedly externalizing over $7 million (P70 million) to Botswana banks. The suspects were reported to be on the run by Zimbabwean authorities last month but were incarcerated after few weeks. One of the suspects Farid Shahadat (45) appeared before the Harare Magistrate court on 8th September  and pleaded not guilty to the charge. Magistrate Josephine Sande then remanded him to 21st September for about P15 000 of bail.
Shahadat and other suspects Ryan Gregory Joseph (33) and Delny Deanna Ashley Davies (41) also appeared at the same court on September 10. Magistrate Sande remanded them to November 8 after granting Joseph P10000 and Davies P25000 bail. The trio are alleged to have smuggled P74 million to Botswana banks this year but have not been caught by this country’s authorities.
Zimbabwe Republic Police National Spokesperson Chief Superintendent Paul Nyathi did not want to be drawn into commenting by The Botswana Gazette saying the matter was sub judice and that Botswana authority could possibly comment instead.
Reports say P70 million Pula in cash was smuggled into Botswana over three months through Stanbic Botswana and Capital Bank. Zimbabwean authorities say between 14th January and 7th April   this year, Davies with her associates allegedly deposited US$ 5 819 106, R 500 100, Euro 39 500 into her three foreign accounts with Stanbic Bank Botswana, namely Stanbic Bank (RSA Rand) on the account number 906001687994, Stanbic Bank ( Euro) Account number 906002320062 and Stanbic Bank (USD) Account number 90600168000 and 9060002620438. Between 12th and 13th April this year, Joseph is alleged to have deposited a total of USD$ 331 700 cash into his US Dollars account number 906 000 162 9598 with Stanbic Bank Botswana.
Another suspect of money laundering Shahadat is reported to have, between 2nd February and 11th April  this year deposited USD 1 197080 into his three USD accounts with Stanbic Bank Botswana. It is also reported that the accounts he deposited the money into are listed as 906000257 Stanbic Bank, 9060002572504 Stanbic Bank and Capital Bank000370 300 8498.
All the transactions made by the trio were not approved by the reserve bank of Zimbabwe. All together the money alleged to have been smuggled into Botswana in a space of four months is P74 million (USD$7, 3 million). It has been reported by the Zimbabwean media that the country’s foreign currency shortages were worsening due to massive capital flight amid indications corporates and business tycoons have externalized $3 billion between 2015 and June 2017 mainly to Botswana, Mauritius and the Far East, a development currently under intense investigation.