Going, going, gone

A Centurion-based company, which had a single person acting as director, CEO and “kitchen lady”, received “investments” through its accounts, which were then funnelled to the receivers of the SME Bank loot.

14 March 2019 | Banking

The sole director of Transparency.com, which was housed in a non-descript office in Centurion, Johannesburg, has given a first-hand account of how the millions raided from the SME Bank were funnelled through his company. Software engineer Carl Edem Honu (37), who is a South African citizen originally from Ghana, in his witness account to a commission of inquiry in December 2017 held in South Africa, said he was the “director, the CEO, the kitchen lady, then everything” of Transparency.com when he first appeared on the radar of the SME Bank raiders.

At the time, he said, he was working for another company, Amadeus IT, because Transparency.com was then not “in full flight”.

During the investigation into the missing millions it was uncovered that companies linked to Transparency.com had received as much as N$67 million directly from SME Bank.

Honu said he first met former SME Bank IT systems manager, Zimbabwean Takura Mapfumo, at a seminar in Sandton, through a “mutual friend”, Ovid Chitsiku.

Chitsiku is a Zimbabwean lawyer and one of the people “entrenched” in the businesses of Enock Kamushinda, who is described as the “mastermind” behind the looting at SME Bank.





Honu testified he was first invited to do IT-related work for SME Bank, for which he was supposed to be paid about N$1.8 million.

Although liquidators David Bruni and Ian McLaren found that SME Bank never used Honu's services, he [Honu] insisted that he had done the work, but was never paid.

Honu also gave testimony about how he got ensnared into the inner workings of the alleged “investments” he was to funnel for the bank robbers.

Modus operandi

Honu said when he did not get paid for the work he had done for SME Bank, Mapfumo and former CEO Tawanda Mumvuma suggested signing him up as a “proxy for their investments in South Africa”, and in that way he would get paid for his IT work.

Asked what he understood this to mean, Honu responded: “I understood that I would get … they would send money to me and whoever they are supposed to be, who they are investing to I don't know. I would like distribute to them and then my invoices would be paid that way (sic).”

Honu said Mumvuma and Mapfumo told him that they would send money to Transparency.com, which he in turn was to then “invest” in a number of companies.

“[Then] they tell me these are the companies of the investment that needed to be paid and they will tell me how much of my invoice will be paid and that's how I was then paid (sic),” the transcript of the interview with Honu stated.

“They told me they were going to create a company. I would be a director on the company. We are investing in South Africa. My role was to receive the money, get the instructions to pay the different companies, pay them and they would let me know how much I will be paid from my original invoices (sic).”

Honu said there were no companies created, but he would instead receive an SMS from his bank informing him of the millions paid into Transparency.com's bank account.

Thereafter he would meet up with Mumvuma or Mapfumo in Johannesburg, who would provide him with a “payment schedule” - the people who needed to be paid, and so on.

“I'll do that. This is my account, gone, done (sic),” Honu said, while describing the transactions. Honu said although he got 5% from each of the “investments” made through his account, in total it never amounted to the N$1.8 million owed to him by SME Bank, and that he only got about N$500 000.

CATHERINE SASMAN

Similar News

 

Bank BIC unfazed by Dos Santos link

1 week ago - 09 January 2020 | Banking

Namibian-based Bank BIC is confident that its links to Isabel dos Santos will not harm its reputation.Bank BIC chief executive Lindsay Crawford said this in...

More loan options coming

2 weeks ago - 08 January 2020 | Banking

The Bank of Namibia plans to introduce securitisation, which will allow investors to design debt instruments that it will be able to repackage and sell.Securitisation...

Bank Windhoek ranked best bank

2 weeks ago - 03 January 2020 | Banking

Bank Windhoek has been rated as the best Namibian bank by stockbroking firm PSG in their annual Banking Review report, occupying the spot for the...

Bank of the Year

1 month - 06 December 2019 | Banking

One of the biggest financial publications, The Banker, recently announced Bank Windhoek as its bank of the year 2019. At the event hosted in London...

Black Friday, Cyber Monday and secure online shopping

1 month - 29 November 2019 | Banking

Riaan Viljoen With Black Friday enticing shoppers worldwide, and its online equivalent, Cyber Monday, a few days later, the number of online deals during this...

A step towards a better future

1 month - 29 November 2019 | Banking

The Capricorn Group has donated N$120 000 to the organisation Step out of Poverty through Education, Encouragement and Support (SPES), a charity established to serve...

Embracing the power of knowledge

2 months ago - 22 November 2019 | Banking

Evany van WykTaleni Nengola wakes up each morning ready to eat challenges for breakfast. Not literally, but you challenges better sleep with one eye open...

A fruit of hope

2 months ago - 15 November 2019 | Banking

Mariselle StofbergDespite challenging economic conditions, the Cancer Apple Project, which has impacted the lives of numerous Namibians, has managed to raise N$2.5 million in aid...

SME Bank creditors to be paid

2 months ago - 12 November 2019 | Banking

CATHERINE SASMANThe Master of the High Court has authorised the first creditors’ meeting and first members’ meeting of the SME Bank in liquidation. The meeting...

Attachments a last resort - Agribank

2 months ago - 06 November 2019 | Banking

Agribank says when it attaches the property of borrowers it is always as a last resort.“We have a collections policy which is underlined by a...

Latest News

N$450m party funding unaudited

18 hours ago | Politics

OGONE TLHAGE Auditor-General Junias Kandjeke says there is no law authorising him to...

Teachers warned against accepting bribes

18 hours ago | Education

Kavango East education director Fanuel Kapapero has issued a stern warning to teachers who are accepting bribes from parents in exchange for placing children at...

Swapo must outlive its members

18 hours ago | Opinion

Swapo is in the midst of probably its toughest spell of post-independence existence. The mushrooming of the independent candidates phenomenon, almost all of whom are...

Hardap Dam level drops to...

18 hours ago | Disasters

The Hardap Dam's level has dropped even further since last week. Even though the dam received its first inflow since 2018 last week after some...

Tough road ahead

18 hours ago | Agriculture

The disastrous drought in Namibia over the past seven years has forced livestock producers to significantly reduce their herds. They are now faced with cash...

Katima abattoir to start with...

18 hours ago | Agriculture

ELLANIE SMIT The Katima Mulilo export abattoir is expected to commence with test slaughtering by the end of February, if repairs...

Sustainable use of biomass strengthened

18 hours ago | Environment

Germany has donated more than N$2 million in vehicles and equipment to the agriculture ministry and the University of Namibia (Unam) in an effort to...

Man in court for registering...

18 hours ago | Justice

A 58-year-old man arrested at Aranos last Friday for allegedly providing false information relating to an accident made his first appearance in the Aranos Magistrate's...

A beacon of hope

18 hours ago | Education

The Tsintsabis Combined School's feeding programme has received resounding support from stakeholders since its implementation in 2004, acting principal Christalina Narubes said.During an interview at...

Load More