Windhoek
The formal bail hearing of a South African national who allegedly stole N$4 million from his Namibian employer Pennypinchers ended on Thursday in the Windhoek Magistrate’s Court with the accused being denied bail.
Peter Tyran Kohler, 44, who lives in Ongwediva, allegedly defrauded his employer, Pennypinchers Timbercity, of N$4 million.
He faced a charge of fraud (alternatively theft), following his arrest on September 10. The State alleges that he defrauded the company by transferring money into his personal account instead of the company’s account.
Magistrate Ruth Herunga said: “I have considered that the investigations are at a premature stage and at this stage the extent of the fraud is yet to be determined.”
“Bail is denied due to the fact that Kohler is a foreign national facing a fraud case involving N$4 million, therefore the risk of abscondment exists,” stated Herunga.
Kohler made his first appearance in court last month.
During the bail hearing Kohler testified that he was married with three children and came to Namibia six years ago. He was appointed as the branch manager for Penny Pinchers Ongwediva in the north.
He further confirmed that he was arrested on September 10 and was aware that the charges against him were serious, but
added that he would stand trial if released on bail.
Kohler indicated his desire to plead guilty as he wanted to dispose of the matter as quickly as possible. He was represented by Willem Visser.