Fresh bid to haul CMB bosses before creditors

Friday, May 31, 2019

A new liquidator for Capital Management Botswana (CMB) plans to haul the troubled firm’s directors before creditors in July, to account for the plus-P500 million in pensioner funds that went missing under their supervision.

The directors, Tim Marsland and Rapula Okaile, ignored subpoenas to appear before creditors at the High Court in February, a move that saw the hearings attended by former CMB staffers.

Okaile held a 25% stake in CMB and Marsland the balance at the time the asset management firm went into liquidation.

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Fresh bid to haul CMB bosses before creditors

A new liquidator for Capital Management Botswana (CMB) plans to haul the troubled firm’s directors before creditors in July, to account for the plus-P500 million in pensioner funds that went missing under their supervision.

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