Niël Terblanché & Marthina Mutanga
MICHAEL Amushelelo, the flamboyant young forex trader and entrepreneur, has been arrested by the Namibian Police and face charges of, amongst others, fraud and money laundering.
Amushelelo was a studio guest of Informanté Radio’s Morning Mix live broadcast show yesterday and the day before, during which he candidly spoke about how he became self made millionaire. The two broadcasts on Informanté’s social media platforms attained some of the show’s highest audience reach with around 79 000 people during both live broadcasts.
Commissioner Nelius Becker confirmed the arrest of the young man on Thursday afternoon, but added that formal charges have not been registered against him yet.
“At this stage, detectives are still gathering evidence and questioning the suspect. Formal charges will be laid against Amushelelo once the initial investigative process have been finalised,” Commissioner Becker said.
Commissioner Becker indicated that the investigation is at a very sensitive stage but was able to reveal that the charges Amushelelo will eventually face, relate to the transgression of Namibia’s banking laws and laws preventing the proliferation of organised crime.
This is not the first time that Amushelelo has had a brush in with the law. In 2014, he was sentenced to two years in jail for manslaughter following a motor vehicle accident in 2010 that he caused while driving under the influence of alcohol and without a valid driver’s licence. The accident occurred while he was driving at very high speed and it resulted in the death of one person and leaving a second victim permanently paralysed.
Since his conviction he has been in involved in the process of appealing against the sentence.