P326 million: biggest financial scandal in Botswana

Friday, December 08, 2017

In the dock: Seretse, Leburu and Kerekang PIC. THALEFANG CHARLES

The money-laundering case involving a well-known businessman Bakang Seretse and two others is considered one of the biggest financial scandals in the history of Botswana. Allegedly, it involves about P326 million from the National Petroleum Fund (NPF).

Seretse, Botho Leburu and Kenneth Kerekang were this week remanded in custody after appearing before the Regional Magistrate’s Court facing money-laundering charges in their personal capacities.

They will appear for mention today. According to the charge sheet, the three, between September 5, 2017 and November 27, 2017 in Gaborone, received various sums of money knowing, or suspecting, or having reasonable grounds to know, or suspecting, or having derived, or realised in whole, or in part, directly or indirectly from the commission of a confiscation offence, to wit, theft.

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