Financial intelligence flagged Fishrot deals worth N$10 billion
News - National | 2020-09-09
THE director of the Financial Intelligence Centre, Leonie Dunn, on Wednesday said they flagged an amount of at least N$17 billion suspected to be the proceeds of crime.
this amount, deals worth N$10 billion are linked to the Fishrot scandal.
Dunn announced this during the FIC's annual report presentation.
“A total value of potential proceeds of crime amounting to N$17 billion is now subject to investigations by law-enforcement authorities and other identified competent authorities,” she said.
Dunn said the FIC contributed to 84 investigations conducted by the Namibian Police and the Anti-Corruption Commission.
“The top five underlying predicate offences investigated include fraud, corruption, poaching, dealing in drugs, illegal deposit taking/pyramid schemes and money laundering,” she said.
The FIC said investigations by these law-enforcement agencies with assistance of the Office of the Prosecutor General secured 15 money-laundering convictions, and criminal sanctions applied.
“Furthermore, there are 50 other cases with elements of money-laundering offences currently pending before various courts,” she said.
Several of the Namibians involved in the scandal have been arrested, including former fisheries minister Bernhard Esau, his son-in-law Tamson “Fitty” Hatuikulipi, former Justice Minister Sacky Shanghala, and Mike Nghipunya, the suspended head of Fishcor.
Two top managers of a Namibian branch of the South African investment fund Investec (now Ninety One) have also been arrested for their alleged involvement in their scheme: James Hatuikulipi, the firm's managing director for asset management (and Tamson Hatuikulipi's cousin), and the firm's former head of client management, Ricardo Gustavo.