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ZACC Arrests Belgian Businessman For Externalising US$180k | Full Statement

ZACC Arrests Belgian Businessman For Externalising US$180k | Full Statement

Statement by the Zimbabwe Anti-Corruption Commission (ZACC) on the arrest of a Belgian businessman for externalisation of foreign currency.

ZACC ARRESTS BELGIAN NATIONAL FOR EXTERNALISATION

The Zimbabwe Anti-Corruption Commission (ZACC) has arrested a Belgian national, Daleyot Erez, for externalization involving more than USD$180 000.

Erez is the major shareholder in Raiz-El Nickel Processing (Private) Limited with a 70percent stake.

It is alleged that sometime in December 2021, Erez hatched a plan to prejudice the Government of Zimbabwe thousands of United States dollars through his company Raiz El-Nickel Processing.

To achieve his plan, Erez allegedly exported 240 tonnes of copper/nickel alloy valued at USD180 000.00 to Tera Africa, a South African Company, at undervalued prices.

The money was supposed to be paid to the Raiz-El Nickel Processing (Pvt) Ltd Ecobank account in Zimbabwe but instead, Erez bypassed this to avoid paying tax by instructing Tera Africa to pay the export proceeds to his South African registered company, Knight Corp, through South African bank, First National Bank (FNB).

Further investigations established that since December 2021, the foreign currency earnings of the accused person were not received by Ecobank Zimbabwe Limited depriving the country of thousands of dollars in undeclared incomes and loss of revenue through externalization.

It was also established Erez’s company corruptly posted huge losses to the Government by declaring minimal taxable profits and not acquitting CDI Forms within 90 days in violation of the Exchange Control Regulations.

The Reserve Bank Exchange Control Regulations require all foreign currency earnings to be received within 90 days or within an approved extension period by the Exchange Control.

Non-acquittal of CDI forms constitutes an offence in terms of Section 5(1) of the Exchange Control Act. Erez was remanded in custody by a Kwekwe Magistrate to 20 April for bail hearing.

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12 Comments

Chen 1 month ago

l don't know weather it's becoz of approaching elections , but ndobasa reAnti - corruption board renyika kuteera nekuona big corruption going on in state institutions, private institutions ,POLITICIANS,MINISTERS. Corruption inodonhedza nyika , kwete zvema $10 us anotorwa nepolice mototi mukuita basa . Iyee President Zimbabwe Mines Cooperation wekuSmuggler Gold kuAirport wekudzimirwa maCamera yakatozongofa yakaloader. Batai matsotsi akaita seiyaya toziva kuti makutanga !!!


mudhara zvambu 1 month ago

ndozvamunogona kubata maforeign nationals imi muri mbavhawo ko madiii magara manyarara 20w3 tasvika tipedze masports acho coz dzese mbavha dzine chekuita nehubi out


Edison 1 month ago

as someone who works for a company which exports some of its products i have to say this is just a tip of the iceberg.
externalization is happening in most of these companies for example where i work.... after exporting the 💰 goes to the owners other company in Portugal then to Zimbabwe.
When it finally lands in zim inenge yashoma shoma kungoti zvinzi company ahina loss and also meet govt and operational cost. and hes been doing this for a while... ukada kutaurisa unobva vadzingwa basa.kuda kunotengesa kuzimra unongona kusapihwa mari yacho yehutengesi futi or worse kutouya iri rtgs isingatenge...
its not only him anemabhururu ake futi anoita izvozvo one day i actually heard them talking about it pa party yemwana wake
kutongitendawo kuti akundipa yangu yehu chef ininaniwo ne situation yemo


Dr Hercules 1 month ago

Small fish indeed ,ZACC should investigate the USD3 Billion Command Agriculture fund as well as the USD15 billion if people are to take it seriously.


CCC 1 month ago

If you do investigation you will find kuti mapurisa neCIO yakabata Rushwaya yakatodzingwa basa izvezvi


mhofu 1 month ago

congrats mabata mbavha 1, ok ko dzimwe dzese dzozivikanwa kana nema grade 1 dzikufamba y mukudzisiya. the day wen u start doin ur jobs without prejudice, with out favour n fear i believe this nation wil b great again. till that day chimbovharai coz u jus wasting public funds that culd hav been used for zvimwe or ndoyaizosara after looting toshandisa senyika


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mutadza 1 month ago

ko 6 kg gold dza Rushwaya dzakazodii


Chapwititi Kestombela 1 month ago

ZACC munongobawo zvenyu mari, $15 000 000 000 haisati yawanika akatora nanhasi sei? 🤔 Imiwo vacho Auditor general vakashaya paper trail yemari yamurikipiwa from treasury. Saka mukuitei so 🤔. Better to disband this circus and put real people who know how to do this job. Busy focussing on small change culprits and not the oligarchs kings and queens.


🌠 1 month ago

Fifteen Billion Dollars

Mangethe 1 month ago

May u pliz express your money figure in words

R.G Mugabe 1 month ago

Sei muchibata matemba chete 🤔? Murikusiya sharks and whales zvenyu apa your books chaiwo haasi kuita balance 🤣🤣🤣🤣🤣. Looting commission yega yega 🤣🤣🤣🤣


Jinx 1 month ago

Parading the kill of a lizard...


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