CMB bosses face investor firing squad

Friday, January 18, 2019

The two directors of mothballed asset management firm, Capital Management Botswana (CMB), are due to spend three days next month facing questions from creditors who are tracing more than P500 million that went missing under the firm’s management.

The firm’s provisional liquidator, John Little, has reportedly issued subpoenas for CMB directors, Tim Marsland and Rapula Okaile as well as possible “others” who will only be known on the date of the enquiry.

The face-off will be held before the Master of the High Court in Gaborone, as part of the fact-finding provisions of the Companies Act.

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