Fresh bid to haul CMB bosses before creditors

Rapula Okaile. PIC. KENNEDY RAMOKONE
Rapula Okaile. PIC. KENNEDY RAMOKONE

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.

Editor's Comment
Shame on the Police!

According to a press statement from the police, unidentified armed men attacked on duty police officers at the station in the early hours of Tuesday.During the attack, the suspects stole 14 riffles, five pistols and an undisclosed number of ammunition.Although unconfirmed, it is alleged that the suspects were just carrying knives and axes, which they used to scare the men and women in uniform before they took them hostage to help themselves to...

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