Former Minister of Mineral Resources, Green Technology and Energy Sadique Kebonang received curious payments from the embattled Capital Management Botswana (CMB).
This is contained in a report by the company’s Statutory Manager Peter Collins which states that “monies paid to CMB by its clients have been squandered and consumed by third parties related to CMB.” The statutory Manager however could not establish the relationship between Kebonang and CMB.
The report which is part of the records placed before the court lists “a number of transactions in the CMBF1 account that I am unable to reconcile due to lack of information from accounting records which were not kept.”
Among the transactions was a P 75 000 payment made out to Kebonang on 20th April 2017 and another payment of P75 000 to the former minister made out on 3rd July 2017.
The former High Court Judge reported “prima facie evidence of a criminal act of theft by conversion” in which P125 million of Botswana civil service pensioners money was diverted by Tim Marsland and his team to line their pockets.
Reporting on the CMB agreements with Kawena Holdings ÔÇô a self styled Botswana based Special Purpose Vehicle and a 60% owned subsidiary the Botswana Opportunities Partnership (BOP) Peter Collins says the agreements are “bogus and manipulative gestures by Marsland ( as an alter ego of Both CMB and CMBF1) to make use of the Kawena drawdown for his own disreputable intentions viz. to spend the Kawena drawdown on anything other than a BOP investment asset, the principal beneficiaries being” Marsland, CMB Chief executive Officer Rapula Okaile Kawena PTY Managing Director Clementino Inacio Dos Santos, Emsite (Pty) Ltd which the statutory manager refers to as “a Marsland front” and Turnosat (Pty) Ltd which he refers to as “a Marsland or Okaile front.… This list is not exhaustive.”
Curiously, like former Minister Kebonang, two South African nationals believed to be linked to Kawena PTY also received a number of P75 000 payments from CMB. The Statutory Managers states in his report: “from the banking records of CMBF 1, I have detected monthly payments of P 75 000 to each of one Wayne Ollewagen and one Adam Robert Hudgson, from September 2016. It appears that those two South African individuals have some connection to Kawena, but I have not seen any documentation to confirm…….. the fact that P125 million found its way into CMBF1’s bank account and in the absence of any tangible investment being made in Kawena or BOP’s behalf ( other than the meaningless write-up of a 60% shareholding in the local Kawena SPV), is prima facie evidence of a criminal act of theft by conversion.