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Court orders release of Amushelelo’s properties

In a landmark ruling for online forex trading entrepreneur, Michael Amushelelo, the court has ordered that the properties that were seized by the police be released back to him.
The court has set aside the decision by the magistrate to authorise two search warrants of 9 and 10 October 2019 for searches and seizures that were conducted on premises he was operating from.
Amushelelo and his business partner, Gregory Cloete were arrested on the 10th of October 2019 and appeared in the Windhoek magistrate court on charges of the prohibition on conducting of banking business by an unauthorised person, contravening section 5 (1) (a) (b) and (c) read together with section 72 (1) of the Banking Institutions Act 2 of 1998.
Under the same Act, count two deals with a contravention of section 55A (1), running a pyramid scheme.
Court 3 and 4 are charges under section 4 (a) (i) and 6, res with sections 1,5,6 and 11 (1) of the prevention of organised crime Act 29 of 2004.
These offences relate to the crime of money laundering.
Amushelelo then brought an application to set aside the two search warrants authorised by the magistrates’ court.
His properties that had been seized include the following:
BMW 1 series bearing registration number Forex Na,
Range Rover Land Rover series, model 5.0L with registration number Forex 2,
Mercedes Benz W176 model bearing registration number Forex 4 Na,
BMW 3 Series 328i, registration number Forex 3 Na, an Audi A4 (Forex 6)
Mercedes Benz (Forex 12 Na).
Lenovo laptops
Four iPhone cell phones, an iPad, a Dell Computer and two HP Printers.
Investment contracts and ID copies of investors together with cash and various other goods including five wristwatches.

Wonder Guchu

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