• May 31st, 2020

PG expands Amushelelo money laundering probe



The prosecutor general has ordered the investigating officer dealing with the case of self-proclaimed forex trader and activist Michael Amushelelo to further investigate the matter.

Amushelelo, alongside fellow business partner Gregorie Beni Cloete, was arrested in October 2019 on four counts that are in contravention with the Banking Institution Act 2 of 1998 and Prevention of Organised Crime Act 29 of 2004.
During their court appearance yesterday in the Windhoek Magistrate’s Court, prosecutor Precious Matali informed the court that the prosecutor general has given additional instructions relating to bank statements, bank records, documents from the Bank of Namibia and Master of the High court.

Thus, magistrate Linus Samunzala postponed the matter to 20 August for the police to conclude their investigations. The court further extended their bail.

Court documents state the pair received N$17 million from members of the public intending to conduct banking services. 
This, according to the prosecution, Amushelelo and his co-accused did so without being authorised in terms of the Banking Institution Act. 
Furthermore, the prosecution is charging that the pair committed offences relating to money laundering.
Consequently, the authorities seized all properties and vehicles, and they froze all bank accounts belonging to the accused. Currently, there is a petition demanding the release of all assets and money of Amushelelo and Cloete. The petition, spearheaded by ‘investors’ and sympathisers, has thus far collected 618 signatures out of a targeted 1 000.   

The information on the site indicates that more than 200 ‘investors’ and possible 600 family members or more are waiting to get refunded or at least have a portion of their money returned.

“Bank of Namibia and the Court should have the wellbeing of the people at heart at first and not political revenge to Mr Amushelelo who aired some political critics about ruling party and the president,” reads the petition.  
The petition indicates that some of the ‘investors’ took out bank loans to invest with Amushelelo. 
“Some need to pay home loan payments. Others are in need of medical treatment. It is unacceptable to keep on postponing the case again and again,” says the petition.

Earlier this year, close to 300 people, who willingly gave their money to Amushelelo and his associate Cloete, asked the Bank of Namibia to refund their ‘investments’. 

The group, calling themselves Project One Million Investors, submitted a letter to the central bank, saying most of them are struggling financially, claiming they did not know, neither were they part of any fraudulent or money laundering activities for which Amushelelo and Cloete were charged.
– mamakali@nepc.com.na

 


 


Maria Amakali
2020-05-19 10:58:32 | 11 days ago

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