Security guard implicated in US$4 million Ecobank heist acquitted

A security guard who was fingered as being part of armed robbers who are on the run after robbing Ecobank of US$4 448 500 has been acquitted of money laundering charges.

Mr Sibonginkosi Sibanda (48), of Bulawayo’s Cowdray Park suburb, had been appearing for trial before Bulawayo magistrate Ms Patience Madondo after it was alleged that he received US$100 000 as his share from the US$448 500.

During cross-examination, the accused’s lawyer, Mr Prince Butshe of Butshe and Associates, cross-examined the investigating officer, Mr Towoneso Jele.

Mr Butshe: “Why did you arrest Mr Sibanda?”

Mr Jele responded: “We acted on information we had received from our informers (intelligence)”.

Mr Butshe: “Do you appreciate the difference between intelligence and evidence?”

Mr Jele: “Yes.”

Mr Butshe: “Do you agree that for trial purposes what is needed at court is evidence, not intelligence or unverified information?”

Mr Jele: “Yes.”

At the conclusion of the trial, Ms Madondo said the State, represented by Ms Concilia Ncube, had failed to prove a case beyond any reasonable doubt.

“The State failed to disprove the accused’s defence that since 1996 he was employed as a police officer and in 2005 to 2006 he was deployed to Liberia.

“When he returned, he brought a lot of money. After that, he bought his first house and a car. In 2012, after he had retired from the Zimbabwe Republic Police, he was paid his pension, saved money and acquired properties.

“In 2023, the accused bought a house for his daughter in Cowdray Park suburb. As such, the State failed to show how the acquisition of the house was linked to the robbery because the house was bought prior to the robbery. Furthermore, there was no proof regarding who bought a house in Mbundane suburb or whether it was registered under the name of the accused’s wife.

The accused is, therefore, acquitted and discharged,” said the magistrate.

The prosecutor, Ms Ncube, had argued that Sibanda was part of an armed robbery gang at Ecobank situated in Bulawayo’s city centre and was given US$100 000 as his share by his accomplices, who are still at large.

“During the course of investigations it was established that Mr Sibanda, in an effort to conceal the offence, purchased a house in Mbundane suburb for US$16 000 and registered it under the name of his daughter. He also purchased a truck for US$12 700 and registered it under the name of his wife,” she said.

“He further purchased a house in Cowdray Park suburb, bought a fence and drilled a borehole at a combined cost of US$69 000 at his rural home. He registered a company under his wife and daughter’s names,” said Ms Ncube. *_-H-Metro_*