Zim Latest

No bail for jailed Bulawayo business tycoon accused of fuelling forex on black market

When it rains, it literally pours for jailed prominent Bulawayo businessman Ismail Moosa Lunat who is charged with fuelling forex on the parallel market, money laundering and externalisation, after his bail application hit a brick-wall on Monday.
In denying Moosa Lunat bail, Bulawayo magistrate Tinashe Tashaya said he wanted the public to have faith and trust in the country’s justice delivery system. Lunat (57), was last Thursday arrested by officials from corruption watchdog, ZACC, at his residence in leafy Kumalo suburb. He was remanded in custody to February 28 for routine remand.
Regardless earlier reports that Lunat could have externalised $1,3 million as alleged by ZACC, it emerged that the externalisation amounts up to US$2,2 million.
“The fears by the State hold water bearing in mind that the cancer of corruption is very prevalent in this country. We do not want to practice what is now dubbed ‘catch and release’ on the streets when people are seeing people walking freely with such serious cases hanging over their heads. Justice must prevail hence bail is denied,” Tashaya said.

State Media


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