98 Kilos Of Gold Confiscated In Zimbabwe

in #africa6 years ago


It was recently reported that the Zimbabwe police are investigating a case pertaining to a suitcase that was confiscated in a raid that allegedly contained $4 million in cash and 98 kg of gold. There is Intel the company which the gold was confiscated from actually had a licence to deal in gold that was issued in July of this year which means it was still valid and the time of the raid. The investigation is apparently to ascertain how the suspect managed to raise the 4 million dollars and 98 kg of gold with in such a short time frame.

The authorities believe that the suspects we're going to smuggle the valuables out of the country, before they were thwarted by the tip to the police. Before this attempted smuggling the police had received a tip-off that the suspects were dealing gold illegally in Borrowdale. Upon further investigation police raided the property and confiscated the money and gold until their investigation is complete.

The suspects are currently still in custody facing possible smuggling charges. at the moment the Zimbabwe republic police are in the process of verifying the origins of the confiscated Gold and cash. This crackdown is in response to pressure from the government after the country has been negatively affected by the illegal externalization of money and precious metals. It is estimated that more than 1.4 billion dollars has been illegally moved out of zimbabwe but thanks to a hardline approach from President Mnangagwa 150 million has allegedly been returned to the country.

It seems like the administration in Zimbabwe is trying to focus in on the individuals and companies that believe they can continue to exploit the weakness of the government. unfortunately for the law breakers governance is improving and the opportunities for such thefts are becoming few and far between. This is a very good example of how a government in the developing world should seek to protect its resources from business men who will place personal gain over national welfare.


Posted from my blog with SteemPress : https://habarinetwork.com/2018/07/10/98-kilos-of-gold-confiscated-in-zimbabwe/

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It's always interesting to hear these stories. Maybe there is more than reported on the surface level...

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