Mushore arrested

FORMER NMB Bank deputy chief James Mushore has been arrested in Harare after returning home from London at the beginning of October police confirmed.

Mushore has been on the police wanted list since 2004, facing charges of foreign currency externalisation totalling $30 billion.

The state had recently indicated that it was prepared to forgive many bankers who were suspects in a 2004 crackdown on bankers by the central bank, which triggered a widespread financial crisis.

He was arrested at his Chisipite home. Assistant Commissioner Wayne Bvudzijena confirmed Mushore’s arrest and said investigations were still in progress.

“Mushore was arrested on Wednesday at his home in connection with externalisation of foreign currency. Investigations are continuing,” Bvudzijena said.

Since 2004, police have been hunting for Mushore and three other NMB executives  Francis Zimuto, Otto Chekeche and Julius Makoni, who also allegedly fled to the United Kingdom.

 Justice Minister Patrick Chinamasa invoked the Prevention of Corruption Act in 2006 to declare the three NMB Bank executives ‘specified’.

After fleeing Zimbabwe in 2004 Mushore’s car, a Mercedes-Benz, was found by the Zimbabwe Republic Police parked in the resort town of Kariba after allegedly staging an escape into Zambia from where he is believed to have fled to the United Kingdom.

Police also alleged that Mushore, Makoni, Zimuto and Chekeche had set up a money transfer office under the name LTB Money Transfer in the United Kingdom.

The financial institution is believed to have been run by NMB Bank employees in the United Kingdom without a license from the Reserve Bank of Zimbabwe.

Post published in: Economy

Leave a Reply

Your email address will not be published. Required fields are marked *