SWAKOPMUND - Namibian authorities have issued a warrant of arrest for an Austrian businessman for failing to settle a debt of N$400 000.

The man, Jorg Wolf, owes Andreas Maischatz, a Namibian national N$400 000 for shares of a gambling machine distribution business that was transferred to him in 2015.

Court papers indicate that the warrant was issued on Friday, 3 January.  Wolf, who has no family or business in Namibia anymore, allegedly travelled on 28 December to Namibia for a short holiday.
Maischatz now wants to use the opportunity to recover his money as Wolf reportedly failed to pay him for the past four years.  

He also stated in his affidavit that Wolf does not have any assets in Namibia that can be attached to recover his money.

 Maischatz in his affidavit said he was employed by Austria Casino Technologies and also held 25 percent shares in the company that was importing gambling machines to Namibia. 
However, the company became dormant in 2015, resulting in him selling his shares to Wolf, who already had 71 percent shares.

The two met in September 2015 in Windhoek, whereby they through a partially verbal and written agreement agreed to sell and transfer his shares to Wolf for N$400 000.  The two also agreed that Maischatz will take over the payments of a Volvo that was bought through Bank Windhoek, which had an outstanding amount of N$205 000.

But Maischatz says that he has not received a single payment from Wolf after he transferred his shares and settled the Volvo’s payments.