Two Checks Track Illegal Currency Deals
The Hyveld Seed Company in Zimbabwe, Africa was called to court last week on the account of the two checks it received allegedly as payment for foreign currency deals despite being an unauthorized agent.
Appearing before the Harare magistrate court, the Hyveld Seed Company denied allegations that it was involved in illegal foreign currency transactions that amounted to $900,000. Hyveld Seed Company representative Trevor Hedges said that the two checks were not payments for foreign currency.
The checks were received from two transactions arising from dealings with Treger Holdings Zimbabwe’s sister company Ger and Company who instructed them the said sum of money into its offshore Swiss account during two occasions.
But data seem to point that it was indeed a foreign currency transaction since Treger Holdings paid them the two checks immediately after the money was transferred.
Source: Seed Firm Accused Of Illegal Forex Dealings, allAfrica.com
Appearing before the Harare magistrate court, the Hyveld Seed Company denied allegations that it was involved in illegal foreign currency transactions that amounted to $900,000. Hyveld Seed Company representative Trevor Hedges said that the two checks were not payments for foreign currency.
The checks were received from two transactions arising from dealings with Treger Holdings Zimbabwe’s sister company Ger and Company who instructed them the said sum of money into its offshore Swiss account during two occasions.
But data seem to point that it was indeed a foreign currency transaction since Treger Holdings paid them the two checks immediately after the money was transferred.
Source: Seed Firm Accused Of Illegal Forex Dealings, allAfrica.com
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