Cash is king for James
The Hatuikulipi cousins rank top in the hierarchy of most funds received from the fishing quota bribery scandal, according to PG files.
JEMIMA BEUKES
WINDHOEK
Indictment documents laid before the High Court at yesterday’s pretrial of the so-called Fishrot bribery case show that James Hatuikulipi received the lion’s share of the alleged Fishrot proceeds – a whopping N$32 million.
According to these documents, the Fishrot accused schemed to get 75% of the offshore payments for fishing quotas under governmental objectives.
The accused had also under-declared the revenue of Namgomar Pesca, the supposed fishing joint venture between Namibia and Angola, by a whopping N$30 million and the company therefore owes the Namibian taxman N$9.6 million.
Former managing director of Investec Asset Management and director of Fishcor James Hatuikulipi scored at least N$109 million.
According to the court documents, James’s company, Tundavala Invest Limited, registered in Dubai in the United Arab Emirates (UAE), was specifically incorporated to receive the 75% offshore payments on behalf of the six accused.
“A financial analysis identified that during the investigation period, J Hatuikulipi received N$43 267 842 in his personal bank accounts from parties of interest, and that he also paid N$10 804 301 from such accounts to parties of interest. As a result, it appears that Mr JN Hatuikulipi personally benefited from the net amount he received in his personal bank accounts and or in cash to the value of N$32 463 541,” the documents state.
Financial analysis further found that during the period under review, James also received an amount of N$9.1 million and an additional US$4.1 million in the Tundavala account, through his various business interests and from parties of interest.
Fitty’s haul
Documents further show that James’s cousin and co-accused Tamson ‘Fitty’ Hatuikulipi received the second biggest portion of these ill-gotten funds, which was at least N$57.6 million.
Tamson, who is also the son-in-law of former fisheries minister Bernhard Esau, reportedly received about N$23.7 million in his personal bank accounts from parties of interest.
He allegedly paid N$6.66 million from these funds to parties of interests and therefore personally benefited from the remaining funds or cash to the value of N$17 million.
It is added that a financial analysis done during this time, found that Tamson benefited to the tune of N$40.5 million through his various business and corporate interests which received funds from parties of interests.
Shanghala
Meanwhile, former justice minister Sacky Shanghala reported received about N$4.8 million in his personal bank account from parties of interest.
However, no payments from this account to parties of interest were identified, which suggests that Shanghala personally benefitted from the N$4.8 million.
Another financial analysis also identified that Shanghala received a further N$16.5 million through corporate and business interests that received money from parties of interest.
Esau
Documents also point out that that Esau received at least N$150 000 in his personal bank accounts from parties of interest, which were funded through a payment from Mermaria Seafood Namibia.
He also received an additional N$1.9 million through his corporate and business interests which received funds from parties of interest.
A financial analysis also found that Esau benefited an additional N$3.3 million through payments pertaining to expenses incurred on his farm Dakota.
“It was noticed from affidavits from suppliers and service providers to Mr Esau that Mr Esau often made cash payments to such suppliers and service providers. Payments in respect of Esau’s’ Farm Dakota totalled N$79 273 that were made in cash and for which invoices were provided,” the documents read.
Gustavo
A financial analysis further found that Namgomar Pesca Namibia’s bank accounts did not identify payments to the 100 % shareholder Nangomar Pesca Limitada, an Angolan company.
However, it was found that a large sum of N$6.9 million was paid to former Investec Asset Management client manager Ricardo Gustavo.
This reportedly suggests that Gustavo therefore was the de facto shareholder of Namgomar Pesca Namibia.
It was also found that Gustavo had received N$14.4 million in his personal bank accounts from parties of interests and that he paid N$2.27 from these accounts to parties of interests.
As a result, is appears that he personally benefited from the net amount in his personal bank accounts or cash of about N$12.1 million.
An amount of N$3.39 million was further paid from the account of Namgomar Pesca Namibia to Wiese Construction and Renovations for the construction and renovations of Gustavo’s residence.
The state found that Namgomar had paid Wiese Construction and Renovations N$3.39 million, for the construction of his house, Gustavo also benefitted to the tune of N$3.39 million.
Mwatetulo
Meanwhile Puis Mwatetulo, a co-accused in the matter, reportedly received N$5.8 million in his personal bank accounts from parties of interest and paid N$11 450 from these accounts to parties of interests.
It is believed that Mwatetulo personally benefited from the remaining N$5.8 million.
He allegedly received a further N$8.3 million though corporate and business interest in the Otuafika Group that received funds from parties of interests.
Nigel van Wyk, Shanghala’s personal assistant, reportedly received N$1.9 million in his personal bank account from parties of interest.
Investigations did not find any payments made to parties of interests from Van Wyk.
WINDHOEK
Indictment documents laid before the High Court at yesterday’s pretrial of the so-called Fishrot bribery case show that James Hatuikulipi received the lion’s share of the alleged Fishrot proceeds – a whopping N$32 million.
According to these documents, the Fishrot accused schemed to get 75% of the offshore payments for fishing quotas under governmental objectives.
The accused had also under-declared the revenue of Namgomar Pesca, the supposed fishing joint venture between Namibia and Angola, by a whopping N$30 million and the company therefore owes the Namibian taxman N$9.6 million.
Former managing director of Investec Asset Management and director of Fishcor James Hatuikulipi scored at least N$109 million.
According to the court documents, James’s company, Tundavala Invest Limited, registered in Dubai in the United Arab Emirates (UAE), was specifically incorporated to receive the 75% offshore payments on behalf of the six accused.
“A financial analysis identified that during the investigation period, J Hatuikulipi received N$43 267 842 in his personal bank accounts from parties of interest, and that he also paid N$10 804 301 from such accounts to parties of interest. As a result, it appears that Mr JN Hatuikulipi personally benefited from the net amount he received in his personal bank accounts and or in cash to the value of N$32 463 541,” the documents state.
Financial analysis further found that during the period under review, James also received an amount of N$9.1 million and an additional US$4.1 million in the Tundavala account, through his various business interests and from parties of interest.
Fitty’s haul
Documents further show that James’s cousin and co-accused Tamson ‘Fitty’ Hatuikulipi received the second biggest portion of these ill-gotten funds, which was at least N$57.6 million.
Tamson, who is also the son-in-law of former fisheries minister Bernhard Esau, reportedly received about N$23.7 million in his personal bank accounts from parties of interest.
He allegedly paid N$6.66 million from these funds to parties of interests and therefore personally benefited from the remaining funds or cash to the value of N$17 million.
It is added that a financial analysis done during this time, found that Tamson benefited to the tune of N$40.5 million through his various business and corporate interests which received funds from parties of interests.
Shanghala
Meanwhile, former justice minister Sacky Shanghala reported received about N$4.8 million in his personal bank account from parties of interest.
However, no payments from this account to parties of interest were identified, which suggests that Shanghala personally benefitted from the N$4.8 million.
Another financial analysis also identified that Shanghala received a further N$16.5 million through corporate and business interests that received money from parties of interest.
Esau
Documents also point out that that Esau received at least N$150 000 in his personal bank accounts from parties of interest, which were funded through a payment from Mermaria Seafood Namibia.
He also received an additional N$1.9 million through his corporate and business interests which received funds from parties of interest.
A financial analysis also found that Esau benefited an additional N$3.3 million through payments pertaining to expenses incurred on his farm Dakota.
“It was noticed from affidavits from suppliers and service providers to Mr Esau that Mr Esau often made cash payments to such suppliers and service providers. Payments in respect of Esau’s’ Farm Dakota totalled N$79 273 that were made in cash and for which invoices were provided,” the documents read.
Gustavo
A financial analysis further found that Namgomar Pesca Namibia’s bank accounts did not identify payments to the 100 % shareholder Nangomar Pesca Limitada, an Angolan company.
However, it was found that a large sum of N$6.9 million was paid to former Investec Asset Management client manager Ricardo Gustavo.
This reportedly suggests that Gustavo therefore was the de facto shareholder of Namgomar Pesca Namibia.
It was also found that Gustavo had received N$14.4 million in his personal bank accounts from parties of interests and that he paid N$2.27 from these accounts to parties of interests.
As a result, is appears that he personally benefited from the net amount in his personal bank accounts or cash of about N$12.1 million.
An amount of N$3.39 million was further paid from the account of Namgomar Pesca Namibia to Wiese Construction and Renovations for the construction and renovations of Gustavo’s residence.
The state found that Namgomar had paid Wiese Construction and Renovations N$3.39 million, for the construction of his house, Gustavo also benefitted to the tune of N$3.39 million.
Mwatetulo
Meanwhile Puis Mwatetulo, a co-accused in the matter, reportedly received N$5.8 million in his personal bank accounts from parties of interest and paid N$11 450 from these accounts to parties of interests.
It is believed that Mwatetulo personally benefited from the remaining N$5.8 million.
He allegedly received a further N$8.3 million though corporate and business interest in the Otuafika Group that received funds from parties of interests.
Nigel van Wyk, Shanghala’s personal assistant, reportedly received N$1.9 million in his personal bank account from parties of interest.
Investigations did not find any payments made to parties of interests from Van Wyk.
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