Makamba repatriates externalised forex

Makamba repatriates externalised forex

JAMES MAKAMBA

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• Makamba arrested

By Takunda Maodza

JAILED prominent business mogul, James Chafungamoyo Makamba has repatriated his funds that were abroad and is now seeking bail, the High Court in Harare heard on Wednesday.

It is, however, not yet clear as to the amount of money the prominent businessman and former broadcaster has returned home.

Making a bail application before Justice Yunus Omerjee, Makamba's lawyer George Chikumbirike cited that circumstances had changed and as a result his client was now a suitable candidate for bail.
Chikumbirike said the passage of time since the arrest of Makamba on February 9 this year shows that the State’s case against him is weak.

He also said that on previous denial to bail, the court had cited that Makamba had vast properties in his name in and out of the country, but the State had failed to prove this beyond any reasonable doubt as the said properties were not in the accused person’s name.

Chikumbirike said his client was no longer a holder of foreign accounts as Makamba had already repatriated the funds back home through the Standard Chartered Bank.

He said the repatriation of funds by Makamba clears the State’ fears of abscondment as his client was no longer in possession of any funds outside the country and all his properties were now within the State’s jurisdiction.

The State, led by Charles Kandemiri, however, applied for a postponement of proceedings saying it needed time to verify some facts that were raised by the defence.

“The respondent is applying for a postponement of the matter to May 14 this year,” Kandemiri said, adding that he was only served with the application on the 7th of this month and would need to verify issues raised by Chikumbirike. He said the State wanted to verify issues raised with the assistance of a senior officer, Superintendent Mabunda who is currently out of the country on business.

Kandemiri said since the application was based on changed circumstances there was need to verify new factors which the defence alleges have risen.

“There is need to verify the documentary exhibits annexed to the application and also to verify with the Standard Chartered Bank on whether the funds have been received in Zimbabwe,” said the state.

Justice Omerjee deferred the matter to Friday but advised the State to verify the issues raised with emergency and to make proper use of the time that it has been granted.

Makamba is facing charges of externalising millions in foreign currency and has been languishing in remand prison since February 9, the day he was first arrested.

Now that Makamba has returned funds from his foreign accounts, circumstances have changed and under the laws of this country, argued Chikumbirike, he is entitled to bail.

He said the facts that were raised before previous judges and magistrates have since changed and this has been discovered after their determinations.

“It is submitted that since the determination by (Lawrence) Kamocha and (Vernanda) Ziyambi, there are facts that were not placed before the learned judges which facts have arisen and have been discovered after the aforesaid determination,” said Chikumbirike in his bail application.
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