Trio Arrested for Cyber-Enabled Theft of USD $34,500 from RBZ

Trio Arrested for Cyber-Enabled Fraud Involving RBZ Exhibition Funds

Three individuals were arrested in connection with the theft of USD $34,500 meant for the Reserve Bank of Zimbabwe’s (RBZ) exhibition stand at the Harare Agricultural Show. They are now facing charges of fraud and money laundering in the Bulawayo Regional Court.

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

Also Read: Chinese Businesswoman Arrested in Harare After Illegally Transferring US$880K to China without RBZ Approval

How the Scam Unfolded

The RBZ had contracted Kutting Edge Events to construct an exhibition stand at the show, with payment set at USD $34,500 in two instalments. The first half was to be deposited into the company’s Steward Bank account.

However, investigators allege that the trio, acting with accomplices still at large, hacked into the contractor’s email system and fraudulently changed the banking details.

As a result:

On 28 August 2025, RBZ deposited USD $17,250 into Rubble Chinanai’s Stanbic Bank account.
On 2 September 2025, another USD $17,250 was deposited into the same account.

Alleged Money Laundering Scheme

Investigations revealed that the funds were laundered through multiple accounts and withdrawals:

Rubble allegedly transferred USD $6,500 to Ashel’s NMB account.
Another USD $6,500 was sent via Mukuru to a South African contact, Richard Nyadongo, with Ashel receiving a USD $250 commission.
Ashel also withdrew USD $6,500 from her NMB account and deposited it into Chinyande’s ZB account under instructions from another suspect, Anold Kasasa, who remains at large.

Court Grants Bail Amid Conditions

The court granted bail to all three accused under strict conditions:

Each must deposit USD $150 as recognisance.
They are not to interfere with witnesses.
They must reside at their declared addresses until the matter is concluded.
Chinyande was additionally ordered to surrender his passport to the Clerk of Court.
All three are required to report to ZRP Bulawayo Central every Friday.

The case has been remanded to 30 September 2025.

Growing Threat of Cyber-Enabled Fraud

Authorities warned that cyber-enabled fraud and money laundering continue to pose serious threats to trust in financial systems.

“Those who abuse technology to siphon public funds will be prosecuted,” the statement concluded, urging individuals and institutions to remain vigilant when conducting digital transactions.