Fishcor's Nghipunya denied bail

OGONE TLHAGE

WINDHOEK

Mike Nghipunya, the suspended CEO of the National Fishing Corporation of Namibia (Fishcor), was denied bail by the Windhoek Magistrate's Court yesterday.

He is implicated in the matter involving the payment of N$75.6 million through the trust account of law firm DHC Incorporated.

The money was allegedly used to buy luxury vehicles, houses and a portion of a farm.

Nghipunya faces charges of using his office for gratification in terms of the Anti-Corruption Act, one count of fraud and one count of money laundering under the Prevention of Organised Crime Act.

Nghipunya offered in his bail application to report to the Otjomuise police station every weekday, pay bail of N$150 000 and not to interfere with investigations into the matter.

The State opposed the granting of bail on the grounds that it would not be in the interest of justice or of the public, and that the applicant was likely to abscond and to interfere with ongoing investigations.

In her ruling, Magistrate Ingrid Unengu said the case involved widespread corruption and prominent public figures.

“Based on the evidence placed before this court, the case of the applicant and his co-accused is a first of its kind in Namibia involving millions of Namibian dollars and alleged widespread corruption allegedly committed by prominent public figures. It will be in the interest of justice for this matter to be determined in a competent court of law,” the ruling read.

“It is the finding by this court that the interest of justice does not permit the release of the applicant on bail.

“The applicant is not a suitable candidate to be released on bail.”