Mushore acquitted

BY STAFF REPORTER
HARARE - James Mushore, director of the National Merchant Bank, has been acquitted of externalising scarce foreign currency from Zimbabwe.

He was arrested in October last year and charged with five counts of contravening the exchange control regulations. Harare regional magistrate, Lilian Kudya, ruled that prosecutors had failed to prove that Mushore had personally instructed NMB employees to externalise over US$8 million to foreign bank accounts.

Two state witnesses, Simon Ngirande and Learnmore Chatima, who gave evidence against Mushore, were “not credible” and “the court was not convinced with their testmonies,” the magistrate said.

Mushore was fined $1000 or 20 days in prison for fleeing Zimbabwe through an undesignated point.

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