Chinese national forfeits millions in Tanzania illegal currency exchange case

Chinese national, Xie Xiaomao (left), at Kisutu Resident Magistrate's Court after being sentenced to pay a fine of Sh2 million for the offense of conducting foreign currency exchange business without a license issued by the Bank of Tanzania (BoT). PHOTO | Hadija Jumanne.

By  Hadija Jumanne

What you need to know:

  • Xiaomao, known as Celina in business circles, admitted to the charge of conducting foreign exchange operations without the required license from the Bank of Tanzania (BoT).

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