NEW: Kudakwashe Tagwirei, a Zimbabwean fuel tycoon under U.S. sanctions, cashed in on preferential treatment from the country’s government amid the spectacular crash of a new local currency. /1
occrp.org/en/investigati…
occrp.org/en/investigati…
Documents and emails obtained by OCCRP reveal how the US-sanctioned fuel magnate used back-channel access to prematurely cash in on state-backed securities. /2
Skirting regulations to obtain otherwise scarce US dollars, Tagwirei and his associates then appear to have used proceeds from the scheme to purchase shares in a lucrative mining project. /3
Experts say that this preferential treatment directly contributed to the crash of the Real Time Gross Settlement dollar, a new currency introduced by the government three years ago in the hope of curbing the country’s economic woes. /4
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