Fishrot: N$317m allegedly misappropriated

JEMIMA BEUKES WINDHOEK The curtain is coming down on former Fishcor CEO Mike Nghipunya’s bail hearing today, with the State alleging that its investigations have shown that, in total, N$317 million of public resources were misappropriated in the so-called Fishrot saga.Nghipunya, whose alleged dealings in this misappropriation were laid bare in court this week, denied a role in any of it.In fact, he argued that no monies were misappropriated, adding that the whole saga is one big misunderstanding.State advocate Cliff Lutibezi yesterday told Nghipunya in closing that more than N$317 million was allegedly misappropriated and, as such, there is a serious prima facie case against him in which he is facing very serious charges - from racketeering to money-laundering and corruptly gratifying himself as well as theft, amongst others.Money misappropriated through Fishcor alone, when Nghipunya was in charge, amounted to N$167 million, the State told Judge Shafimana Ueitele. These monies were paid through Sisa Namandje Inc and DHC Incorporated law firms and other fishing entities owned by Nghipunya’s co-accused in the landmark case, the State explained.The State also informed Nghipunya that he should bear in mind that if found guilty, he will face a very heavy sentence. To this, the former CEO retorted that there is nothing to suggest he was guilty of any crime.He said: “It is my understanding that every allegation of crime is serious. I still strongly believe guilt of a person is not based on the number of charges but the evidence that is available against accused person, and I strongly believe the case does have the chance of proving the allegations beyond reasonable doubt”.He also vehemently denied obstruction of justice charges he faced for having sent out usage agreements to several fishing entities in November 2019, long after the Fishrot scandal broke and some of his co-accused were arrested. ShockedAt this time, he also contacted Jose Ramon of NovaNam Group of Companies, asking them to sign an agreement for consulting services he rendered to them for Gwanyemba Investment Trust (GIT); however, NovaNam denied that he had offered them such services.Nghipunya told the court that he was shocked that the CEO and chairman of Novanam, Edwin Kamatoto and Miguel Angel Tordesillas, said GIT did not perform any consultancy work for them.He, however, has no signed agreements between GIT and these entities, save for invoices processed by the companies.“It was not signed [agreements] and the accountants of GIT has been asking that these agreements must be signed. The agreement has not been signed yet, we [only] have the invoices that was processed for the company,” he said.Nghipunya was arrested by the Anti-Corruption Commission (ACC) in February 2020. Interference fearedAnother incident which, according to the State, points to the possibility of interference, was when Nghipunya contacted a certain Ramon for financial assistance of N$100 000 or N$80 000, which he asked to be transferred to his lawyer Milton Engelbrecht.According to the Lutibezi, Ramon informed Nghipunya that he didn’t have that kind of money but that he could give him a smaller amount and eventually asked his gardener to pay between N$30 000 and N$50 000 to Engelbrecht.The State therefore believes that there is enough evidence that shows that Nghipunya is a flight risk and that he will interfere with the investigation and witnesses.Despite admitting that he double-dipped by earning millions as a fishing consultant for fishing companies in business with Fishcor like GIT while he was at the helm of the company, Nghipunya insisted that he deserves to be granted bail.“I was flabbergasted,” he exclaimed, adding that it was certainly not obstruction of justice but rather the “normal cause of business”.In fact, he had permission from the Fishcor board of directors, a claim he said can be backed up by a plethora of documents which he can unfortunately not yet present to the court.“The board has authorised that I conduct business in my personal capacity. I think it is just reasonable - constitutional freedom cannot be taken by any board…” he said.According to Nghipuyna, his co-accused, former fisheries minister Bernhardt Esau, nominated him for the CEO position and the final order for secondment came from fisheries executive director Dr Moses Maurihungirire, despite there being three senior officials above him in his department. jemima@namibiansun.com

Fishrot: N$317m allegedly misappropriated

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Namibian Sun 2025-09-19

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Fishrot: N$317m allegedly misappropriated

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Namibian Sun 2025-09-19

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