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/ 15 August 2005

The phantom banker

Namibian authorities have called in the help of South African authorities to trace people who are suspected of having conned state companies out of at least R130- million of public funds under the guise of being investment managers. A Namibian newspaper reported that the Namibia Financial Institutions Supervisory Authority has asked the Scorpions, for assistance in its search for the Namibian money.

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/ 5 August 2005

Namibians fleeced of R130m

A string of unrealised multimillion-rand investments with shady financial traders based in South Africa has left some Namibian state-owned companies embarrassed by the fact that they may have been conned into signing away at least R130-million in public funds.