Zimbabwe roots out corrupt bankers

HARARE- Two executives of Zimbabwe’s troubled Royal Bank yesterday were remanded in police custody without being formally charged by a Harare magistrate.

The two men, chief executive officer Jeffrey Mzwimbi and executive director Simba Durajadi, are likely to appear in court this week to face charges of fraud. Police allege they defrauded the bank of billions of Zimbabwe dollars.In August the country’s central bank, the Reserve Bank of Zimbabwe (RBZ), placed Royal Bank under curatorship and ordered a six-month freeze on all deposits and assets.Royal joins a list of locally owned banks being investigated by the RBZ for misuse of funds and under-capitalisation.No comment was available from police, but it is believed Mzwimbi and Durajadi will this week ask to be remanded on bail.A crackdown on corrupt officials, bankers and businessmen in Zimbabwe has seen several high profile people remanded in police cells, including former finance minister Chris Kuruneri who is still in custody.Kuruneri faces charges of externalising foreign currency to build a lavish mansion in Cape Town.-Nampa-SapaPolice allege they defrauded the bank of billions of Zimbabwe dollars.In August the country’s central bank, the Reserve Bank of Zimbabwe (RBZ), placed Royal Bank under curatorship and ordered a six-month freeze on all deposits and assets.Royal joins a list of locally owned banks being investigated by the RBZ for misuse of funds and under-capitalisation.No comment was available from police, but it is believed Mzwimbi and Durajadi will this week ask to be remanded on bail.A crackdown on corrupt officials, bankers and businessmen in Zimbabwe has seen several high profile people remanded in police cells, including former finance minister Chris Kuruneri who is still in custody.Kuruneri faces charges of externalising foreign currency to build a lavish mansion in Cape Town.-Nampa-Sapa