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Kgathi goes after money launderers

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Kgathi goes after money launderers
Government moved swiftly last Friday to gazette an extension of the Proceeds and Instruments of Crimes Regulations, 2017 with new powers for seizures to include cars, jewellery, foreign currency, foreign cash holdings, precious metals, precious and semi-precious stones, pearls and other valuables. It also extends to seizure of businesses operated by suspect, which the state agents have reason to believe could be connected to the alleged crime. The amendment notice, gazetted by Minister of Justice, Defence and Security Shaw Kgathi on December 15, 2017 is meant to augment the Asset Forfeiture Act. The strengthening of forfeiture provisions comes in a week dominated by a hullabaloo over a money laundering scandal unfolding at the National Petroleum Fund (NPF) and misconduct at Botswana Public Officers Pension Fund (BPOPF) by a Director of asset management firm Kgori Capital. The hullaballoo over the billions of Pula involved in the scandal is not occurring for the first time nor are they isolated incidents. Forget the letters bandied about all over the place between characters in these scandals, and politicians across the political landscape. After many years of giving looters a blank cheque to enrich themselves with public funds unchecked, suddenly Government is running helter skelter…

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