Bakang loses bid to regain assets, P82m

Bakang Seretse PIC: MORERI SEJAKGOMO
Bakang Seretse PIC: MORERI SEJAKGOMO

Troubled entrepreneur, Bakang Seretse has lost his multi-million pula assets and P82m to the state after the Gaborone High Court ruled that the properties were proceeds of crime.

Seretse, who has been battling money laundering, corruption and cheating the public charges after he was fingered as the mastermind in the National Petroleum Fund (NPF) financial scandal, had his assets held by the Office of the Receiver on behalf of the state.

His 27 seized assets, which include high valued residential plots, top of the range vehicles, have been held under a restraint order obtained by the state while it awaited the conclusion of the state forfeiture case launched in terms of the Proceeds and Instruments of Crime Act (PICA).

Editor's Comment
End the GammaNgwato chieftainship spats

The chieftainship spats between Seretse and Khama’s uncles have purely degenerated into a permanent elephant in the room and it does not seem anyone cares to ensure this hurdle is dealt with promptly for the attainment of peace for GammaNgwato’s bogosi.Just as the proverbial, when two elephants fight, it is the grass that suffers aptly suggests, and so is the state of the institution of bogosi in GammaNgwato.Such is the case because the...

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