Namibia: Looted SME Bank millions splashed on cars in SA – Investigative Unit

Part of the N$79 million stolen from SME Bank was used to buy luxury vehicles such as an Aston Martin, a McLaren and a Mercedes-Benz for individuals in South Africa.

This is according to bank records and court documents filed in South Africa’s Gauteng High Court by the SME Bank’s liquidators, Ian McLaren and David Bruni.

Former SME Bank chief executive Tawanda Mumvuma and ex-finance manager Joseph Banda are named in court documents as masterminds, alongside the co-owner of the…