ZIMBABWEAN police have arrested businessman, Nicholas van Hoogstraten, after being found with a large quantity of foreign currency and pornographic material, state media reported. Van Hoogstraten, 63, was found with 20 billion Zimbabwe dollars cash, 37,586 US dollars, 92,880 rands, 190 pounds and 180 Botswana pula. State television showed Van Hoogstraten in a white short sleeved shirt as well as the wads of local and foreign currency recovered at his home in the capital. Police spokesman, Wyane Bvudzijena, told the state-run Herald newspaper that Van Hoogstraten had been charging rents on properties he owned in foreign currency and illegally dealing in foreign currency. "Van Hoogstraten's arrest (on Thursday) evening at about 700 GMT follows reports received by the police that to the effect that he was charging his tenants in foreign currency," Bvudzijena "He owns about 200 properties in Harare and Bulawayo (second city). The properties include houses, flats and shops." He added that the tycoon demanded six months' rent in foreign currency from his tenants.

"The police informant had been asked to pay in the region of 8,000 US dollars. "Van Hoogstraten is being charged under the Exchange Control Regulations for charging a service and dealing foreign currency. He is also facing charges under the Censorship Act," he said, adding that the tycoon would appear in court once investigations were completed.

Since October last year, Zimbabwe has faced a serious shortages of its currency blamed by the central bank chief Gideon Gono on cash barons who he accuses of hoarding Zimbabwe dollars and exchanging them for scarce foreign currency.

Credit: www.zimbabwejournalists.com