Samuel Shinedima
HIGH Court judge Claudia Claasen has recused herself from the ongoing case of Forex traders Michael Amushelelo and Gregory Cloete because of personal relations with some of the witnesses in the matter.
The recusal surfaced when the two self-proclaimed financial experts, who were represented by Kadhila Amoomo, made an appearance before the court on Tuesday morning for the review roll of the case in which they are accused of contravening the Banking Institution Act 2 of 1998. They were arrested in October 2019.
Speaking to Informanté, Amoomo stated he and his clients welcome the recusal and that it will go a long way in cementing the independence of the judiciary.
“Our clients obviously want to have their matter finalized so that they can focus on the fight for the total economic liberation of our people,” he added.
Amushe and Cloete face an indictment of 360 charges, for having operated a Ponzi scheme in which money was solicited from investors who were ensnared by promises of lucrative earnings on their investments. However, investors’ money was used to pay back other investors, who joined earlier.
While jointly charged with 348 counts of fraud with the inclusion of theft by false pretences, money laundering, racketeering, and operating unlawful banking business, the pair together with the companies controlled by them, are also charged with several counts of fraudulent tax evasions, among others.
This is after the State alleged that the two self-styled financial experts ran an investment scam from September 2018 to October 2019, in which they promised people lucrative proceeds from their investment.
The suborning of millions of dollars through a non-existent company called Global Growth Investment Namibia was presented to people in such a way that they would use investors’ money to trade on their behalf on foreign currencies.
The two accused remain free on bail of N$35 000 each, and they are scheduled to appear in court on 19 May, before a different judge.
