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Man arraigned for embezzling N$1.2 million from NUST

Home National Man arraigned for embezzling N$1.2 million from NUST

WINDHOEK – A Windhoek resident found himself in police custody following allegations that he defrauded the University of Science and Technology (NUST) an amount of N$1.2 million. 

Dicardo Shadeen Snyders made the routine appearance before the Windhoek Magistrate’s Court on Lüderitz Street before Magistrate Liwena Mikiti yesterday.  

The prosecution has charged Snyders with one count of fraud and one count of disguising unlawful origin of property under the Prevention of Organised Crime Act (POCA). Court documents did not indicate whether he works at NUST.

According to court documents, between 2013 and 2017 Snyders pretended to NUST and or Brian Mouton that he as a creditor was entitled to payments amounting to N$1.2 million. This he allegedly did by false pretence knowing fully well that he was not a creditor to the University and nor was he entitled to the funds.

In relation to count two of disguising unlawful origin of property, the prosecution alleges that with the funds, Snyders entered into agreements in order to conceal the origin of the funds. Snyders apparently concealed the origin of the funds hoping to avoid prosecution and or diminish any property acquired directly or indirectly as a result of the commission of the offence.

“Being a person who reasonable have known that property is or forms part of proceeds of unlawful activities did wrongfully and unlawfully commit money laundering,” stated the court documents. 

The court released Snyders on bail of N$25 000 instead of the N$40 000 that was initially proposed by the state after Snyders’defence attorney Sarel Maritz informed the court that he could only afford N$20 000 bail.

As condition of his release on bail, Snyders was ordered to report himself every Monday and Friday to the investigating officer and hand over all his travelling documents. Furthermore, he was warned not to interfere with ongoing police investigations. 

The court postponed the matter to October 26 for further police investigations.