This is one of the findings made by Windhoek High Court judge Thomas Masuku on Friday, in a judgement in which assets linked to the investment scheme operated by Amushelelo were declared forfeited to the state. Eight motor vehicles and money in 13 bank accounts make up the assets declared forfeited to the state in terms of Namibia’s Prevention of Organised Crime Act. A total amount of about N$13,2 million was in the bank accounts in July 2020, by when the accounts had been frozen, prosecutor general Martha Imalwa has informed the court.
The cars include several luxury vehicles acquired by Amushelelo while he was running an investment scheme, touted as trading in foreign currency, under the name ‘Project One Million’ in 2018 and 2019. The cars include a Mercedes-Benz AMG E63S, a Mercedes-Benz AMG A45, a Range Rover Sport 5.0 V8, an Audi Q3, an Audi A4 and two BMW vehicles.
Imalwa yesterday said the cars are to be sold following the forfeiture order. The money remaining in the accounts will not at this stage be paid into the Criminal Assets Recovery Fund, which was created by the Prevention of Organised Crime Act, Imalwa said. She added that several investors have applied to the court to have the money they claim to have lost as a result of Amushelelo’s investment scheme excluded from the funds that are forfeited to the state.
The investors’ applications will first be heard by the court before funds in the accounts declared forfeited to the state will be paid into the.