DIS, NPF signatory non-existent - prosecutor
Mpho Mokwape | Friday March 27, 2020 12:33
During submissions on Tuesday in relation to the State’s application for the forfeiture of assets order, State attorney Ernest Mosate said the NPF money that was allegedly laundered by Basis Point claiming to be in a contract with DIS was fraudulent.
“The respondents claimed that there was a contract between DIS and Basis Point, but the weird thing is that the person who signed on behalf of the DIS never existed in their database.
He (or she) is not even known, which means everything was not legit,” he said.
He pointed out that there was a claimant that there were a series of meetings carried out between the DIS, Basis Point and Ministry of Mineral Resources, Green Technology and Energy Security where agreements were made to transfer the money to DIS.
Mosate, however, said there were no such meetings and that all that was signed between DIS and Basis Point Capital was not legit therefore, assets ought to be recovered. He said instead the money was transferred to DIS and that its intended purpose changed from building storage facilities to buying anti-poaching equipment.
Mosate further said some of the money was laundered through the purchase of houses and exchange between different hands.
“The money laundered was in the sum of P60 million and that is the money we are pushing to recover hence this application,” he said.
Meanwhile, most of the charges in the NPF emanated from the P60 million transfers made by the minerals ministry to Basis Point Capital in March 2016. At the time of the alleged transfer, Kgomotso Abi was the permanent secretary in the ministry and Kitso Mokaila, the minister. Only Bakang Seretse and his company, Basis Point Capital, were charged.
Basis Point is a specialist financial services company that was started in South Africa and was expanded its footprint to Botswana through Seretse’s appointment as its director. It offers services ranging from raising capital to corporate finance therefore, scoring major contracts with government.
The financial scandal involves P250 million, in a case which now has about 18 accused persons including some companies. The judge will deliver a ruling on July 29, 2020.