Three Arrested Over US$34,500 Fraud at Reserve Bank Exhibition

Three individuals have appeared in the Bulawayo Regional Court facing charges of fraud and money laundering after allegedly diverting US$34,500 intended for the Reserve Bank of Zimbabwe’s exhibition stand at the Harare Agricultural Show.

The accused are Rubbie Chinanai (54) and Ashel Chinanai (35) from Cowdray Park, Bulawayo, and Tichawanda Kevin Chinyande (31) of Southview, Harare.

Prosecutors told the court that the Reserve Bank had contracted Kutting Edge Events to construct its exhibition stand for a total of US$34,500, with payments scheduled in two instalments. The accused, allegedly working with accomplices who remain at large, are said to have hacked the company’s email system and changed the banking details.

As a result, the central bank reportedly transferred two payments of US$17,250 each into Rubbie Chinanai’s Stanbic account on 28 August and 2 September 2025 without realizing the funds had been redirected. Investigations later revealed that the money was moved through multiple accounts and withdrawn in stages.

Authorities claim that Rubbie transferred US$6,500 to Ashel’s NMB account, from which an identical amount was withdrawn and sent via Mukuru to a South African recipient, Richard Nyadongo. Ashel allegedly retained US$250 as a commission before depositing another US$6,500 into Chinyande’s ZB account under instructions from fugitive suspect Anold Kasasa.

The court granted bail to the three accused, ordering each to deposit US$150, reside at their registered addresses, and refrain from interfering with witnesses. Chinyande was additionally required to surrender his passport to the Clerk of Court. All three must report to the Bulawayo Central Police every Friday. The matter was adjourned to 30 September 2025.

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