Ex-CMB boss escapes criminal prosecution

Okaile, who once led the now under liquidation CMB, has had criminal charges of attempting to obtain by false pretence hanging over his head since 2019 following allegations of misappropriation of public funds by the asset manager.

He was together with CMB charged by the Directorate of Public Prosecutions (DPP) after Botswana Insurance Fund Management (BIFM) reportedly made a police matter  accusing the pair of trying to defraud Botswana Life of its funds held at a certain First National Bank Botswana (FNBB) account.