They were also accused of conspiracy and obtaining 6 million U.S. dollars by false pretences.
It was alleged that on August 2012 at Stanbic Bank Tanzania Limited headquarters in Dar es Salaam, Sinare with intent to deceive, made a false Standard Bank’s financing proposal dated August 2, 2012 purporting to show that Standard Bank London in collaboration with Stanbic Bank of Tanzania would rise a loan amounting to 550 million dollars from the government of Tanzania at a facilitation fee of 2.4 percent of the principal amount, a fact she knew to be false.
The accused pleaded not guilty to the charges and were remanded until April 6, this year, when their case comes up for ruling on bail application.
They were remanded because cases involving money laundering were not bailable. Enditem
Source: Xinhua
