Bakang loses bid to regain assets, P82m

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).