WINDHOEK – Businessman and forex trader Michael Ndali Sadman Amushelelo was released on bail in the Windhoek Magistrate’s Court yesterday following his arrest for his alleged involvement in money laundering to the tune of N$17 million.
Amushelelo and his business partner Gregorie Beni Cloete were granted bail of N$35 000 each when they made their first court appearance.
The prosecution is charging Amushelelo and Cloete with four counts of contravening the Banking Institution Act 2 of 1998 and Prevention of Organised Crime Act 29 of 2004.
Court documents state that the pair received N$17 million from members of the public with the intention of conducting banking services. According to the prosecution, Amushelelo and Cloete 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.
Amushelelo, who is a well-known forex trader, and his co-accused were arrested after being taken in for questioning by the police on Thursday.
As condition of their release, the court ordered that the two men surrender all their travelling documents to the police investigating officers dealing with the case and they should not apply for new ones.
The court further ordered that Amushelelo and Cloete may not leave the district of Windhoek without seeking prior authorisation from the police investigating officers and to report themselves at the Windhoek police station on Mondays, Wednesdays and Fridays between 08h00 and 17h00.
In addition, the pair were ordered not to interfere with police investigations by directly or indirectly contacting state witnesses.
The court postponed the case to 14 April 2020 for further police investigations.
Members of the public, family members and sympathisers showed up in numbers at court in support of the accused.
Magistrate Ivan Gawanab presided with public prosecutor Bernadine Bertolini appearing for the state. Defence lawyers Taimi Ileka-Amupanda and Kadhila Amoomo represented Amushelelo and Cloete respectively.
2019-10-15 06:53:23 30 days ago