SELF proclaimed financial expert and forex trader Michael Amushelelo and his best friend as well as business partner Gregory Cloete were granted bail in the amount of N$35 000 each.
The duo were arrested at the end of last week and made their first appearance in the Windhoek Magistrate’s Court earlier on Monday.
Amushelelo and Cloete appeared on fraud and money laundering charges. The state prosecutor did not object to the granting of bail to the accused persons but applied to the court that that they hand in their travelling documents as one of the conditions of bail.
The matter was postponed to 14 April 2020 to afford the Namibian police more time to investigate the case.
Taimi Iileka and Karel Gaeb represented Amushelelo and Kadhila Amoomo represented Cloete during the court proceedings.
The case proceeded behind closed doors after police prevented a large crowd of people to enter the public gallery of the court room.