PG kicks Amushelelo and Cloete in the teeth

OGONE TLHAGEWINDHOEKThe old adage of not counting your chickens before they hatch has rung true for forex trader Michael Amushelelo and his business partner Gregory Cloete after the prosecutor-general successfully applied for an order seizing the two men's assets.Amushelelo and Cloete scored a technical victory in the High Court last Friday when Judge Eileen Rakow ruled that assets belonging to then – including N$17 million in investors' money - be returned to them. However, the prosecutor-general immediately applied for a preservation order barring the release of the assets to the two businessmen. Items seized included a BMW 1 Series, a Range Rover, two Mercedes-Benz cars, a BMW 3 Series, an Audi A4, Lenovo laptops, four iPhones, an iPad, a Dell computer, two HP printers, five wristwatches and investment contracts and copies of identity documents of those who had invested in their operation. 'Heart-breaking'Commenting on the development, Cloete said it was a heart-breaking state of affairs. Cloete added that they were only informed of the development on the Monday preceding the Friday judgment. “It is heart-breaking and saddening that the State would want investors to continue suffering,” Cloete told Namibian Sun's 'The Evening Review' show yesterday. Questions raisedAmushelelo found it odd that an appeal for the assets to be released had been filed ahead of the Friday court judgment, alleging this pointed to the capture of the judiciary.“The PG filed their order at 09:00 and judgment came at 10:00 so [that] basically makes one [wonder], did the PG have foreknowledge that the court was going to rule in our favour?” asked Amushelelo.Amushelelo drew comparisons with the Fishrot corruption case in which the PG sold a vessel linked to the scandal but chose to have goods belonging to the duo frozen.“They want to keep a couple of vehicles that are not even worth N$10 million, but a fishing vessel, they are like 'that one can go',” said Amushelelo. According to him, it was a protracted process to regain their assets.“Funny enough is our High Court case took almost a year in order for us to get a ruling in our favour. When it is not in your favour then it is very slow,” Amushelelo said.Crux of the matterThe Bank of Namibia had opened a case against the two, which resulted in the police investigating their business conduct.They allegedly received more than N$17 million from members of the public between February 2015 and June 2019 without being authorised to do so. Rakow ruled that two warrants of seizure issued by the Windhoek Magistrate's Court were invalid and that they be set aside.She further ruled that Namibian police inspector-general Sebastian Ndeitunga's decision to authorise an investigation and collection of information in terms of Section 83 of the Prevention of Organised Crime Act was invalid, and dismissed the investigation.

PG kicks Amushelelo and Cloete in the teeth

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Namibian Sun 2025-08-14

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PG kicks Amushelelo and Cloete in the teeth

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Namibian Sun 2025-08-14

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