ZACC Locates Unexplained Assets Worth $730 Million

2 years agoSun, 05 Dec 2021 14:03:51 GMT
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ZACC Locates Unexplained Assets Worth $730 Million

The Zimbabwe Anti-Corruption Commission (ZACC) says it has located unexplained $730 million worth of assets whose owners must explain how they acquired them or risk losing them to the State.

Appearing in Parliament before the parliamentary portfolio committee on Justice to discuss the 2022 national budget, ZACC commissioner Gabriel Chaibva revealed that they were dealing with almost 200 suspected corruption cases. Said Chaibva:

Of these, the anti-graft body secured six convictions and recovered $52 200 000 (US$600 000), which had been siphoned by bigwigs.

But if the remaining cases fail to prove the source of the fortunes estimated at about $680 million, the assets may be forfeited by the State.

Chaibva bemoaned the $294 million allocated to the commission in the 2022 national budget presented by Finance and Economic Development minister Mthuli Ncube last month, saying it was inadequate.

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The anti-graft body has been accused of allowing high profile individuals to evade justice, the “catch and release” style, but the commission said it requires significant resources to pursue corruption cases in the country.

In the document presented before Parliament, ZACC said the target was to send 180 cases to the National Prosecuting Authority (NPA).

More: The Standard



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