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By: Wonder Guchu

The former Investec manager Ricardo Gustavo, one of the 10 accused in the Fishrot scandal, will ask the court to release N$2,8m from the restrained funds for his legal expenses.

The respondents in the matter are the Prosecutor Martha Imalwa, the liquidators David John Burni and Ian Robert McLaren.

Gustavo, who was arrested in November 2019, has been languishing in prison, waiting for trial.

The other are former justice minister Sacky Shanghala, former Investec boss James Hatuikulipi former fisheries minister Bernhardt Esau, Esau’s son-in-law Tamson Hatuikulipi and Pius Mwatelulo, as well as former Fishcor CEO Mike Nghipunya.

Prosecutor General Martha Imalwa was granted an interim asset restraint order in November 2020 against the fishrot accused.

There are also 15 companies on Imalwa’s list of assets she wants to be restrained.

The asset restraint order listed several bank accounts, investments, company and close corporation shares, immovable and moveable properties that include houses and 60 vehicles, firearms, jewellery, and several luxury watches.

In his affidavit dated 10 November 2021, Gustavo said section 26 of the Prevention to Organised Crime Act requires him to prove that he cannot pay his expenses for the restrained assets to be released.

Gustavo said he needs N$1 314 211.50 to be released from the assets subject to the interim restraining of property order to meet his outstanding legal expenses.

He further said he needs N$1,5m to be released to meet the legal expenses in the restraint order application criminal trial in the High Court of Windhoek.

Gustavo wants the money to be paid into the account of his lawyer Brokerhoff and Associates Legal Practitioners.

Gustavo has not been able to access his assets ever since the Prosecutor General took hold of the property in November 2020.

“Since the time of my incarceration, I had gone through various civil and criminal proceedings both in the Magistrate’s Court and the High Court.

“In the Magistrate’s Court, I made an application for a bail hearing on 23 May 2020, which was refused.

“In the High Court, I have gone through several legal proceedings such as bail application, appeal, joinder application, restraint of property application, recusal application and this application,” Gustavo said.

Gustavo said he has not been able to pay his lawyer because the assets are restrained.

He further said he would want to sell some of the assets to generate funds for legal expenses.

According to Gustavo, the non-payment of the invoices has severe consequences on his constitutional right to a legal representative of his choice.



  • Portion 229 (a portion of portion 4) of the Farm Finkenstein No 526 held under Deed of transfer T7778/2018 and T7779/2018 with Bond B6581/2018
  • Erf No 380, Finkenstein (Ext. No 2) held under Deed of Transfer T3846/2018


  • Yamaha motorcycle
  • Volkswagen VW 358 – Touran
  • A Toyota Hilux Double Cab 3.0 4×4
  • Volkswagen VW 240 Polo Vivo
  • Two Mercedes-Benz vehicles

Four Bank Accounts

(Three with Standard Bank and one with FNB)


  • a Tag Heuer, a Rado Hyperchrome and a Longines.
  • A Festina Gents Watch
  • A Festina Men’s Chronograph Watch
  • A Rolex Sky-Dweller


  • A Glock .40 Handgun
  • A Rifle Tika
  • A Glock Pistol
  • A Rifle .270 WIN


  • N$42 200
  • US$5 800
  • US$1 012



Wonder Guchu

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