How Seretse failed to discredit the DPP case

Seretse had opposed the interim order granted having anticipated it. In terms of the Director of Public Prosecutions’ (DPP) affidavit, P230 million was disbursed from the National Petroleum Fund (NPF) by the fund managers, Kgori Capital (Pty) Ltd to a company, Khulaco (Pty) Ltd not concerned with the business of Government, and contrary to the Public Finance Management Act.

The DPP averred that the funds were used for a purpose outside the defined special purpose of the NPF. The applicant further averred that money derived from the disbursements have found their way into the accounts of various companies associated with the Director of Khulaco and his personal accounts having been used to purchase properties for other individuals and associates of the said director.