Zimbabwe’s police yesterday obtained and carried out a court warrant of search and seizure of some financial records and subscription database of mobile telecommunications firm Econet Wireless.

The company, which is the country’s largest mobile phone network provider, is accused of money laundering through its mobile money platform – Ecocash.

An affidavit signed by investigations officer, Detective Inspector and Officer-in-Charge of the Criminal Investigations’ Asset Unit Mkhululi Nyoni reads that the company allegedly used several individuals between January and June this year to engage in buying and selling hard cash.

Reads part of the affidavit:

“(T)here are reasonable grounds for believing that Econet Wireless (Pvt) Limited is in possession or control of documents, information or records which are required in order to afford evidence in a criminal docket and that are necessary for the purpose of investigating or detecting a case of Money Laundering as defined in section 8(1)(a) of the Money Laundering and Proceeds of Crime Act [Chapter 9:24.10) examine the documents and records and make extracts from and copies of all such documents and records.”

The warrant orders Econet Wireless to surrender all documents being requested by the police within seven working days.

Over the past few months, the Reserve Bank of Zimbabwe (RBZ)’s Financial Intelligence Unit has been investigating Econet along similar allegations, and it appears the warrant is an escalation of that investigation.

Earlier in May, Econet lost a court case against the RBZ in which the company was contesting the closure of its agents’ lines that had been flagged for illegal foreign currency trading by the Financial Intelligence Unit.