Chimombe, Mpofu risk losing properties as State seeks implementation of Money Laundering act

Chimombe and Mpofu Face Asset Seizure as Government Targets Proceeds of Crime

The Zimbabwean government has launched a decisive legal initiative to confiscate assets linked to businessmen Mike Chimombe and Moses Mpofu, who were recently convicted for defrauding the state of US$7 million (approximately R130 million) under the Presidential Goat Pass-On Scheme. The authorities are now preparing to target properties and other valuables allegedly purchased using the proceeds of crime, marking a significant escalation in the co…

Chimombe, Mpofu risk losing properties as State seeks implementation of Money Laundering act

Source: Chimombe, Mpofu risk losing properties as State seeks implementation of Money Laundering act – herald Zvikomborero Parafini Woes continue to mount for jailed businessmen Moses Mpofu and Mike Chimombe, after the State in their latest court appearance last Friday, applied to have their properties seized under the Money Laundering Act. The duo was convicted of fraud involving US$7 million two weeks ago. The duo, who face a possible minimum …