Receiver seizes P100 million from Kebonang and Seretse

03 Dec 2018

BY REUBEN PITSE

The case in which former Minister Sadique Kebonang and his twin brother High Court judge Zein Kebonang are charged together with businessman Bakang Seretse with money laundering branched off into a new twist this week with the legislator denying ownership of  the property seized by the Receiver.

Court records revealed that the Receiver seized about P100 million in banked cash and property belonging to Kebonang and Seretse

The Directorate of Public Prosecution (DPP) successfully applied to the High Court December last year for property purportedly belonging to Kebonang’s company Raging Bull to be seized by the Receiver.

Kebonang this week however insisted that “Those properties mentioned in the charge sheet do not belong to me.”

The Court order issued by Justice Godfrey Radijeng states that “all listed property above are to be taken control of by the Receiver for the Republic of Botswana and to be managed in accordance with the Provision of Section 46(5), (6) and (7) of the Proceeds and Instruments of the Crime Act and all related provisions pending the institution and determination of applications for both civil forfeiture and civil penalty orders.”

The property in question include lease area no.3338-KO bought for the sum of P2,850,000.00 paid on the 25th October 2017 in favour of Raging Bull (Pty) Ltd held under notarial deed of cession no. MA901/2017.

Another property is a unit consisting of section no.17, iTowers Scheme bought for the sum of P2.400, 000.00 passed on the 3 November 2017 in favour of Raging Bull (Pty) ltd held under deed of sectional transfer no. St 307/2017.

There is also another property being a Parking Bay P125, iTowers scheme bought together Plot 54368 iTowers passed on the 3rd November 2017 in favour of Raging Bull (ltd) held under notarial deed of cession of Real right: Exclusive Use Areas CRR 161/2017.

In its latest papers before the Magistrate Court, the DPP cited Raging Bull as a “company dully incorporated in terms of the Laws of Botswana-Represented by Sadique Kebonang, in his capacity as Director).

The charge sheet states that as Director of Raging Bull, Sadique Kebonang and Bakang Seretse and Basis Point Capital represented by Seretse between the 29 and 31 August 2017 both dates inclusive near Gaborone engaged in a transaction involving property, which property was proceeds of crime.

It further states that the proceeds of crime in the form of P6.8 million was transferred from Basis Point account held with Capital Bank to Seef Properties of which the entire sum was used to purchase of unit 9 Nkwee Court, Unit 17 I towers, Plot 54368, CBD and Unit D4 Bemovville all in Gaborone knowing or suspecting or having reasonable grounds to know or suspect that such property was derived or realised, in whole or in part, directly or indirectly from a confiscation offence.

According to the charge sheet, Basis Points represented by Seretse and Kebonang on or about April 2017 at or near Gaborone jointly with common purpose engaged in a transaction involving property which property was proceeds of crim. The DPP says the proceeds of crime which amounted to P3.3 million by causing the said amount to be transferred from Basis Points account held Capital bank into Briscoe Attorneys’ Standard Chattered Bank Trust of which 3 million was used to purchase house number 336 Broadcares, Extension 13, Gauteng, South Africa, for the said Sadique Kebonang, knowing or suspecting or having reasonable grounds to know or suspect that such property was derived or realised, in whole or in part, directly or indirectly, from a confiscation offence.

The charge sheet also states that a company called  M&B properties represented by Seretse as Director and Raging Bull represented by Kebonang acting jointly engaged in a transaction involving property which was proceeds of a crime by causing P190 000 to be transferred from M& B Properties as additional funds to purchase Unit D4 Bemcoville, lot 75448, Gaborone, knowing or suspecting r having reasonable grounds to know or suspect that the property was derived or realised, in whole  or in part, directly or indirectly, from a confiscation offence.

Basis Points Capital represented by Seretse and Kebonang acting jointly with common purpose engaged in a transaction involving property by causing P2 million to be transferred from Basis Points Capital to Kaluzi Associates knowing or suspecting or having reasonable grounds that the property was derived or realised , in whole or in part directly or indirectly from a confiscation offence.

The Court order shows that businessman Bakang Seretse who is facing money laundering changes had his personal, business accounts and property taken control of by the Receiver.

They include:

  • Positive balance of BWP69, 734, 260. 00 standing to the credit of Call Account number 0002504001499 held by Khulaco (Proprietary) Limited with Capital Bank Limited as at 30 November 2017;
  • Positive balance of BWP24, 953, 63 standing to the credit of Current Account number 0002704015955 held by Khulaco (Proprietary) Limited as at 30 November 2017;
  • Positive balance of BWP10, 881,199.64 standing to the credit of Call Account number 0002504001550 held by M&B Properties (Proprietary) Limited with Capital Bank Limited as 30 November 2017;
  • Positive balance of BWP 199, 971. 00 standing to the credit of Current Account number 0002704016860 held by M&B Properties (Proprietary) Limited with Capital Bank Limited as at 30 November 2017, whose registered office is 1st Floor, Plot 8881, African Mall, Gaborone. M&B Properties (Proprietary) Limited is the interested person in this property.
  • Positive balance of BWP162, 000. 00 standing to the credit Account 62415126417 held by Outer Limit (Proprietary) Limited with First National Bank Botswana Limited;
  • Positive balance of BWP57,186. 15 standing to the credit of Current Account number 1509505 held by STM Connections (Proprietary) Limited formerly known as STM Holdings (Proprietary) Limited with Barclays Bank Botswana Limited as at 24 November 2017;
  • Positive balance of BWP76, 186. 15 standing to the credit of Current Account number 1028225 held by Sandune International (Proprietary) Limited with Barclays Bank Botswana Limited as at 27 November 2017;
  • Positive balance of BWP750, 000. 00 standing to the credit account number 62655842790 held by Leomog Investment (Pty) Ltd with First National Bank Botswana Limited;
  • Positive balance of BWP430, 000. 00 standing to the credit account number 62088477528 held by Bakang Seretse with First National Bank Limited;
  • Positive balance of BWP384, 600. 30 standing to the credit Account number 6236672300099 held by Bakang Seretse with First National Bank Botswana Limited;
  • Property being Townhouse Unit D4 Bemcoville, Sectional title scheme on Lot 75448, Gaborone bought for the sum of BWP1, 284, 800. 00 stiill held under Certificate of Consolidated Title No. 747/2015 in favour of Mwinda Alley (Proprietary) Limited;
  • Mercedes Benz GLC 250, Station Wagon, B 693 BFI, Chasis No. WDC2539462F280030, Engine No. 27492031092897 registered in the names of Kelebogile Ngwenya