05 Jul 2018 15:50pm
WINDHOEK, 05 JUL (NAMPA) Five people found guilty on a charge of fraud for the disappearance of a N.dollars 30 million investment from the Social Security Commission (SSC) to Avid Investment in 2005, were sentenced on Thursday.
Three of the convicts, former Deputy Minister of Works, Transport and Communication, Paulus Kapia; Avid Investment administrative secretary Inez //Gases and former Acting Secretary-General of the National Youth Council, Ralph Blaauw were each sentenced to three years imprisonment or a fine of N.dollars 60 000.
They were further each sentenced to an additional two years imprisonment which was wholly suspended for a period of five years on condition that the three persons are not found guilty on any charge of fraud or other related charges during the period of suspension.
Windhoek-based defence lawyer Sharon Blaauw, the wife of co-convict Ralph Blaauw, was sentenced to a pay a fine of N.dollars 8 000 or six months imprisonment.
Sharon's conviction and sentence was in respect of contravention of the provisions of the amended Companies Act of 2004, for having signed a number of documents without properly reading their contents.
Meanwhile, Windhoek businessman and Chief Executive Officer of Namangol Asset Management, Nico Josea, who was found guilty and personally held responsible for the theft and disappearance of the N.dollars 30 million, was sentenced to an effective prison term of 17 years.
Josea was found guilty on the first charge of contravention of the provisions of the amended Companies Act of 2004, for having invested the missing money in unknown entities in South Africa.
He (Josea) was sentenced to two years imprisonment on a second charge of theft on the grounds that after the N. dollars 30 million was transferred from the SSC bank account at First National Bank of Namibia to the business account of Namangol, he started allocating the money to several persons and business entities.
The sentence of two years imposed for the charge of theft was ordered to run concurrently with the sentence of the first charge.
Josea, who was then sent to commence his prison term, told journalists he will lodge an appeal against the punishment within the prescribed 14 days of the handing down of the sentence.
High Court Judge Christie Liebenberg handed down the sentences Thursday morning after he found the five people guilty on 11 May 2008 for their involvement that led to the disappearance of the N.dollars 30 million.
Sisa Namandje appeared for Kapia and Petrie Theron for //Gases, while Gilroy Kasper represented the Blaauws.
Slysken Makando appeared for Josea.
Deputy Prosecutor-General Ed Marondedze assisted by State Advocates Cliff Lutibezi and Salomon Kanyemba appeared for the prosecution.