BOTSWANA: NPF LOOTING IS “THE COUNTRY’S BIGGEST WHITE-COLLAR CRIME”

Mmgei on 30th November reported that the National Petroleum Fund (NPF) had been “looted”.  After a long investigation by the Directorate on Corruption and Economic Crime (DCEC), 6 men including a High Court judge, a former Cabinet minister and an MP are facing 65 criminal charges.  The fund that was designed to help cushion Botswana against the fuel hikes and inflation.  6 men: High Court judge, Zein Kebonang; his twin brother and former Cabinet minister and MP,  Sadique Kebonang; executive director of Botswana Energy Regulatory Authority (BERA), Kenneth Kerekang; asset manager, Bakang Seretse and his younger brother, Mogomotsi; and Kago Stimela are accused.  Also accused are 6 companies – Khulaco (Pty) Ltd, Basis Points Capital (Pty) Ltd, M & B Properties (Pty) Ltd, Raging Bull (Pty) Ltd, Leomog (Pty) Ltd, STM Holdings (Pty) Ltd.

http://www.mmegi.bw/index.php?aid=78736&dir=2018/november/30

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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