An administrator of a local company has appeared in court after allegedly breaching Zimbabwe’s exchange control laws by externalising over US$4 million.
Harare magistrate Ruth Moyo granted 76-year-old Maud Patricia Liddell, who was being represented by Ashiel Mugiya, US$500 bail. Liddell will return to court on April 24 for routine appearance.
Court papers indicate that between March and May last year, Liddell sold a 2 975-square-metre stand to Westend Properties for US$4,3 million. She allegedly transferred US$4,085 million abroad without approval from the Reserve Bank of Zimbabwe.
The court also heard that on March 21 this year, detectives from the CID Asset Forfeiture Unit received the information and arrested Liddell, who was charged for funds externalisation.
Liddell also faces a money laundering charge for allegedly concealing or disguising the source, location and movement of funds linked to the externalisation.
Detectives from the CID Asset Forfeiture Unit arrested her on March 21 this year. The US$4,085 million has been recovered.
