Byo couple in $500k money-laundering scam

BY PATRICIA SIBANDA

A BULAWAYO couple has appeared in court charged with theft and money-laundering involving $500 000. They allegedly committed the offence through their EcoCash agent line which they hired out to a business operator in the city.

Fredrick Topia (40) and his wife Nyarai Magaya (32) denied the charge when they appeared before Bulawayo magistrate Lizwe Jamela on Thursday.

They were remanded out of custody to January 31.

The court was told that on an unknown date last year, Topia and Magaya registered a company, Fredloui (Pvt) Limited, for which they are co-directors and acquired an EcoCash agent line registered under the name Fredloui Investments (Pvt) Ltd.

In October 2019, the couple allegedly enlisted the services of one Peter Grassmore Mare, who is still at large, to look for a person who would use the agent line.

Mare went on to hire out the line to Moses Matsveru, although it was registered in the couple’s company name.

On November 29, 2019, Matsveru received a payment of $500 000 into his bank account. He then instructed his bank to transfer the money to the EcoCash agent line.

On the same date, Topia and Magaya blocked and replaced the EcoCash agent line, thus effectively denying Matsveru access to his money.

The court heard that the couple later met Mare in the central business district and transferred the money from the agent line in question to two EcoCash agent lines.

Topia and Magaya then went on to convert the $500 000 to US$20 210, which they later allegedly shared with Mare.

When Matsveru discovered the scam, he reported the matter to the police, leading to the couple’s arrest.

Do you have a coronavirus story? You can email us on: news@alphamedia.co.zw


9 Comments

  1. I just want to mention I am beginner to blogging and site-building and really liked this web page. More than likely I’m going to bookmark your website . You really have great well written articles. Thanks for sharing your blog.

  2. yourself’m as burning with excitement along accumulative concentrating. alter ego was rather apocalyptic by the mated ethical self went up to. It’s punk up to closed ego dispirited. All respecting those topics are movables her should discover no end touching unpronounced. Thanks so much!

  3. I was very pleased to find this web site. I want to to thank you for your time due to this fantastic read!! I definitely appreciated every little bit of it and i also have you saved as a favorite to see new information in your blog.

  4. Do you believe past life hypnosis? Do you think past lives regression is real?

  5. Greetings! Very useful advice in this particular article! It’s the little changes that produce the most significant changes. Thanks a lot for sharing!

  6. I would like to thank you for the efforts you have put in penning this website. I really hope to check out the same high-grade content by you in the future as well. In fact, your creative writing abilities has inspired me to get my own site now 😉

  7. After going over a number of the blog articles on your web page, I really like your technique of blogging. I saved as a favorite it to my bookmark website list and will be checking back soon. Take a look at my website as well and let me know how you feel.

  8. Aw, this was an incredibly nice post. Finding the time and actual effort to produce a great article… but what can I say… I procrastinate a lot and don’t manage to get nearly anything done.

  9. I really love your website.. Very nice colors & theme. Did you make this site yourself? Please reply back as I’m attempting to create my own personal blog and would love to learn where you got this from or exactly what the theme is called. Kudos.

Comments are closed.