Couple rearrested in Ponzi case

A couple alleged to have been involved in an illegal investment scheme in which depositors placed more than N$160m ($8.5m) have been rearrested, after a Windhoek magistrate declared their initial arrest last week unlawful and ordered their release. The Namibian reports that Dawid Mukuyu declared that the arrest of Coenraad Botha and his wife and co-accused, Charlotte Murove, was not lawful, since the police did not have grounds to take them into custody without arrest warrants. Defence lawyer Afrika Jantjies, who is representing them, on Sunday confirmed that they have been detained again. They face 64 charges: one charge of fraud, 31 counts of conducting a banking business while not authorised to do so, 31 counts of money laundering and one charge of conducting a Ponzi scheme. Botha ran an investment scheme which he described as a crypto currency exchange through the company CBI Exchange Namibia, of which he is a director. The Bank of Namibia and CBI Exchange Namibia have been involved in legal battles in the High Court and also the Supreme Court, with the central bank alleging that CBI Exchange Namibia was taking deposits from the public without having a banking licence that would allow it to receive deposits.