Rédaction Africa Links 24 with Werner Menges
Published on 2024-03-17 06:00:00
A Windhoek couple, Coenraad Botha (69) and Charlotte Murove (32), have been arrested in connection with an alleged investment scheme involving N$163 million. They are set to appear in court today, following an argument from their defence lawyer, Sisa Namandje, who claims that their arrest was unlawful due to the lack of warrants at the time of their apprehension. The case is being heard in the Windhoek Magistrate’s Court, with magistrate Dawid Mukuyu presiding.
The couple faces a total of 64 charges, including fraud, conducting a banking business without authorization, money laundering, and operating a Ponzi scheme. The charges stem from their alleged activities between 2018 and 2022, during which they solicited investments from the public under false pretenses. It is claimed that investors handed over a total of N$163 million to Botha and Murove.
Botha ran an investment scheme under the guise of a cryptocurrency exchange through his company CBI Exchange Namibia, previously known as Uhuru Tribe and Uhuru Cash. This operation caught the attention of the Bank of Namibia, leading to legal disputes and litigation in the High Court and the Supreme Court. The central bank froze the account of CBI Exchange Namibia in March 2022, accusing Botha of violating the Banking Institutions Act by accepting public deposits.
In response to the arrest and court appearance of Botha and Murove, a spokesperson for the Bank of Namibia, Kazembire Zemburuka, emphasized the importance of public cooperation in prosecuting such matters. Zemburuka called on depositors who had invested with CBI Exchange Namibia or Botha to come forward and assist the authorities in their investigation.
The legal proceedings in this case have also seen the arrest of Afrika Jantjies, a lawyer representing Botha and Murove, although he was later released without charges. The unfolding nature of events and the complexity of the allegations suggest a lengthy legal battle ahead for all involved parties.
As the case continues to unfold in the Windhoek Magistrate’s Court, the outcome remains uncertain. Whether Botha and Murove will be found guilty of the charges leveled against them or acquitted is a matter that will be decided by the court based on the evidence presented during the trial.
In the meantime, the public is reminded of the importance of vigilance when it comes to investment opportunities, especially those that promise high returns with little risk. It serves as a cautionary tale for individuals to thoroughly research and verify the legitimacy of any investment scheme before committing their hard-earned money.
In conclusion, the case of Coenraad Botha and Charlotte Murove serves as a stark reminder of the potential pitfalls of fraudulent investment schemes and the importance of regulatory oversight in protecting investors. The legal proceedings will shed light on the extent of their alleged wrongdoing and hold them accountable for their actions.
Read the original article on The Namibian
