Harare Businessman Arrested Over US$368K Money Laundering Scheme Involving Naphthalene

Harare Businessman Arrested Over US$368K Money Laundering Scheme Involving Naphthalene

A Harare-based businessman has been arrested over allegations of facilitating a money laundering scheme involving the importation of Naphthalene from South Africa.

Peter Bhachi, a director of Tamir Customs Clearing (Private) Limited, is accused of contravening the Exchange Control Act and the Money Laundering and Proceeds of Crime Act following a series of suspicious dealings tied to his company.

Also Read: Five Zimbabweans Sentenced To 10 Years For Fraud, Money Laundering In £300,000 NHS Scam

Alleged Illicit Import Scheme

He appeared in court recently facing charges linked to the alleged illicit transactions.

According to prosecutors, the alleged offences took place between April 1 and May 8, 2025, involving transactions amounting to US$368 695,65. Authorities claim Bhachi used his company to import Naphthalene despite not being a registered importer with the Reserve Bank of Zimbabwe.

Naphthalene is a chemical compound commonly used in the production of plastics, resins, and insecticides, and is widely known as the active ingredient in traditional mothballs.

Use of Fake Documents

The court heard that Bhachi, working with accomplices, allegedly relied on falsified documents to process the imports and disguise the movement of funds. The scheme reportedly involved Ledim Investments (Private) Limited, which is said to have received the imported goods.

Investigations revealed that the transactions were conducted outside the official exchange control system, and the source of the funds used could not be verified.

Arrest and Bail

Bhachi was arrested on August 19, 2025, and was granted bail set at US$200. Two other suspects were also arrested in connection with the case and allegedly implicated him in the scheme.