Bank at risk of USA sanctions over-involvement in VP Chiwenga’s marriage alleged externalisation of funds. Law expert, Alex Tawanda Magaisa whos is also a former advisor to the late former Prime Minister of Zimbabwe, Morgan Tsvangirai has said that “a bank” is at risk of being penalised for assisting Vice President Constantino Chiwenga and or his estranged wife, Mary Mubaiwa-Chiwenga in externalising funds.
Magaisa observes that the unnamed bank, in helping the VP, violated the provisions of sanctions on Zimbabwe by the United States of America which forbids financial institutions from assisting individuals listed on the sanctions list. He said:
Mary Chiwenga says her husband bought several overseas assets but registered them in the names of relatives. She alleges that he did so on “advice from the Bank” although it’s not clear what that Bank is. Whatever it is, it would suggest that “the Bank” was a professional enabler in circumventing personal sanctions against the Vice President. This could expose the bank to heavy penalties.
He also made reference to Standard Chartered Bank, Barclays Bank plc and CBZ, in that order who were fined US$18 million, US$2.5 million and US$385 million in 2019, 2019 and 2017 by the US for handling transactions on behalf of sanctioned individuals and companies in violation of targeted sanctions.
Mary made the revelation in her court papers in which she is denying charges laid against her by the former army boss.
Source – Pindula News