British property tycoon Nicholas van Hoogstraten has denied violating Zimbabwe's foreign currency laws.
In a statement, Mr Van Hoogstraten described the charges against him as "deliberate and malicious entrapment".
The 63-year-old, of Uckfield, East Sussex, was arrested on Thursday night in a raid at his luxury Harare home.
He is accused of demanding rent in foreign currency, which is forbidden under Zimbabwean law. He also denies separate pornography charges.
A police spokesman told the state-run Herald newspaper that Mr Van Hoogstraten owns about 200 properties in Zimbabwe.
Officers recovered 20 billion Zimbabwe dollars (£335,497), $35,000 (£17,613), 92,880 South African rands (£6,564), £190 and 180 Botswana pula (£15).
Zimbabwean law prohibits the use of foreign currencies for local goods and services.
http://news.bbc.co.uk/2/hi/uk_news/7212491.stm
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