{"id":14608,"date":"2022-03-11T16:56:21","date_gmt":"2022-03-11T16:56:21","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/forex-investors-not-truthful-pgimalwa-sticks-to-her-guns-on-preservation-order"},"modified":"2022-03-11T17:41:39","modified_gmt":"2022-03-11T17:41:39","slug":"forex-investors-not-truthful-pgimalwa-sticks-to-her-guns-on-preservation-order","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/forex-investors-not-truthful-pgimalwa-sticks-to-her-guns-on-preservation-order","title":{"rendered":"Forex \u2018investors\u2019 not truthful – PG\u2026Imalwa sticks to her guns on preservation order"},"content":{"rendered":"

Africa-Press – Namibia. <\/strong><\/span>Prosecutor general Martha Imalwa has accused self-proclaimed forex trader Michael Amushelelo\u2019s investors of not being truthful in their claims. Imalwa said there are inconsistencies with the claims of the investors in comparison to their bank records.<\/p>\n

The said investors have allegedly lied about the total amount they have invested and how much was paid out to them by Amushelelo through his companies; Project One Million and Global Growth Investment Namibia CC.<\/p>\n

They have also not been truthful about how some received money before they even made deposits for their said investments with Amushelelo. In addition, they have also not disclosed how they acquired the funds they have invested and the actual loss they have suffered.<\/p>\n

According to Imalwa, some investors have lied about knowing that Amushelelo was operating an illegal scheme. They did also not give evidence that they tried to establish if Amushelelo\u2019s business was legitimate.<\/p>\n

Imalwa is opposing the application of 44 of Amushelelo\u2019s investors, who applied to have their funds excluded from the preservation order that the prosecutor general is seeking against various assets, bank accounts, and properties belonging to Amushelelo and a vehicle belonging to Taimi Amushelelo.<\/p>\n

The group forms part of 57 people who were allowed by the court to be part of the proceedings. According to the group, they stand to lose more if the final preservation order is granted by the court.<\/p>\n

Investors allegedly paid about N$14.7 million to Amushelelo and his companies in 348 individual transactions. The highest investment made is more than N$1 million and the lowest being N$15 000.<\/p>\n

Imalwa said although Amushelelo solicited money from members of the public with hopes of high returns via forex trading, he did not trade nor make money from these foreign exchange platforms.<\/p>\n

\u201cAn analysis of the respondents\u2019 accounts wherein the amount of the so-called investment was paid into, clearly confirms that the money received into the account was either used to pay-out earlier investors or was used for Mr Amushelelo\u2019s own benefit,\u201d explained Imalwa.<\/p>\n

She added the scheme was at all relevant times insolvent and did not have enough money to repay all the investors their money. In the preservation application, the prosecution is stating that there are reasonable grounds that the properties are proceeds of unlawful activities such as fraud, money laundering, tax evasion, and racketeering.<\/p>\n

The prosecution has since charged Amushelelo and co-accused Gregory Cloete, four close corporations, a company, and a trust controlled by Amushelelo. Amushelelo is facing 365 counts, while Cloete is charged with 360 of the counts. These charges range from fraud, alternatively theft by false pretences, conducting banking business without authorisation and conducting a Ponzi scheme, tax evasion, tax fraud, failure to pay tax, money laundering, and racketeering. They are due to appear in court on 29 March.<\/p>\n

For More News And Analysis About Namibia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Namibia. Prosecutor general Martha Imalwa has accused self-proclaimed forex trader Michael Amushelelo\u2019s investors of not being truthful in their claims. Imalwa said there are inconsistencies with the claims of the investors in comparison to their bank records. The said investors have allegedly lied about the total amount they have invested and how much […]<\/p>\n","protected":false},"author":84,"featured_media":14607,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[234,236,233],"class_list":["post-14608","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"\nForex \u2018investors\u2019 not truthful - PG\u2026Imalwa sticks to her guns on preservation order - Namibia<\/title>\n<meta name=\"description\" content=\"Prosecutor general Martha Imalwa has accused self-proclaimed forex trader Michael Amushelelo\u2019s investors of not being tr ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/namibia\/all-news\/forex-investors-not-truthful-pgimalwa-sticks-to-her-guns-on-preservation-order\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Forex \u2018investors\u2019 not truthful - PG\u2026Imalwa sticks to her guns on preservation order\" \/>\n<meta property=\"og:description\" content=\"Prosecutor general Martha Imalwa has accused self-proclaimed forex trader Michael Amushelelo\u2019s investors of not being tr ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/namibia\/all-news\/forex-investors-not-truthful-pgimalwa-sticks-to-her-guns-on-preservation-order\" \/>\n<meta property=\"og:site_name\" content=\"Namibia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-03-11T16:56:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-03-11T17:41:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/03\/img-622b89bcf2e3f.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"459\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/forex-investors-not-truthful-pgimalwa-sticks-to-her-guns-on-preservation-order#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/forex-investors-not-truthful-pgimalwa-sticks-to-her-guns-on-preservation-order\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Forex \u2018investors\u2019 not truthful – PG\u2026Imalwa sticks to her guns on preservation order\",\"datePublished\":\"2022-03-11T16:56:21+00:00\",\"dateModified\":\"2022-03-11T17:41:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/forex-investors-not-truthful-pgimalwa-sticks-to-her-guns-on-preservation-order\"},\"wordCount\":485,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/forex-investors-not-truthful-pgimalwa-sticks-to-her-guns-on-preservation-order#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/03\/img-622b89bcf2e3f.jpg\",\"keywords\":[\"africa press\",\"Africa Press-Namibia\",\"namibia\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/namibia\/all-news\/forex-investors-not-truthful-pgimalwa-sticks-to-her-guns-on-preservation-order#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/forex-investors-not-truthful-pgimalwa-sticks-to-her-guns-on-preservation-order\",\"url\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/forex-investors-not-truthful-pgimalwa-sticks-to-her-guns-on-preservation-order\",\"name\":\"Forex \u2018investors\u2019 not truthful - PG\u2026Imalwa sticks to her guns on preservation order - Namibia\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/forex-investors-not-truthful-pgimalwa-sticks-to-her-guns-on-preservation-order#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/forex-investors-not-truthful-pgimalwa-sticks-to-her-guns-on-preservation-order#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/03\/img-622b89bcf2e3f.jpg\",\"datePublished\":\"2022-03-11T16:56:21+00:00\",\"dateModified\":\"2022-03-11T17:41:39+00:00\",\"author\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"description\":\"Prosecutor general Martha Imalwa has accused self-proclaimed forex trader Michael Amushelelo\u2019s investors of not being tr ...\",\"breadcrumb\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/forex-investors-not-truthful-pgimalwa-sticks-to-her-guns-on-preservation-order#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.africa-press.net\/namibia\/all-news\/forex-investors-not-truthful-pgimalwa-sticks-to-her-guns-on-preservation-order\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/forex-investors-not-truthful-pgimalwa-sticks-to-her-guns-on-preservation-order#primaryimage\",\"url\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/03\/img-622b89bcf2e3f.jpg\",\"contentUrl\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/03\/img-622b89bcf2e3f.jpg\",\"width\":720,\"height\":459,\"caption\":\"Forex \u2018investors\u2019 not truthful - PG\u2026Imalwa sticks to her guns on preservation order\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/forex-investors-not-truthful-pgimalwa-sticks-to-her-guns-on-preservation-order#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.africa-press.net\/namibia\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Forex \u2018investors\u2019 not truthful – PG\u2026Imalwa sticks to her guns on preservation order\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#website\",\"url\":\"https:\/\/www.africa-press.net\/namibia\/\",\"name\":\"Namibia\",\"description\":\"Just another Africa News Agency Sites site\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.africa-press.net\/namibia\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\",\"name\":\"cfeditoren\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"caption\":\"cfeditoren\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Forex \u2018investors\u2019 not truthful - PG\u2026Imalwa sticks to her guns on preservation order - Namibia","description":"Prosecutor general Martha Imalwa has accused self-proclaimed forex trader Michael Amushelelo\u2019s investors of not being tr ...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.africa-press.net\/namibia\/all-news\/forex-investors-not-truthful-pgimalwa-sticks-to-her-guns-on-preservation-order","og_locale":"en_US","og_type":"article","og_title":"Forex \u2018investors\u2019 not truthful - PG\u2026Imalwa sticks to her guns on preservation order","og_description":"Prosecutor general Martha Imalwa has accused self-proclaimed forex trader Michael Amushelelo\u2019s investors of not being tr ...","og_url":"https:\/\/www.africa-press.net\/namibia\/all-news\/forex-investors-not-truthful-pgimalwa-sticks-to-her-guns-on-preservation-order","og_site_name":"Namibia","article_publisher":"https:\/\/www.facebook.com\/AfricaPressTunisiaa","article_published_time":"2022-03-11T16:56:21+00:00","article_modified_time":"2022-03-11T17:41:39+00:00","og_image":[{"width":720,"height":459,"url":"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/03\/img-622b89bcf2e3f.jpg","type":"image\/jpeg"}],"author":"cfeditoren","twitter_card":"summary_large_image","twitter_misc":{"Written by":"cfeditoren","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.africa-press.net\/namibia\/all-news\/forex-investors-not-truthful-pgimalwa-sticks-to-her-guns-on-preservation-order#article","isPartOf":{"@id":"https:\/\/www.africa-press.net\/namibia\/all-news\/forex-investors-not-truthful-pgimalwa-sticks-to-her-guns-on-preservation-order"},"author":{"name":"cfeditoren","@id":"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"headline":"Forex \u2018investors\u2019 not truthful – PG\u2026Imalwa sticks to her guns on preservation order","datePublished":"2022-03-11T16:56:21+00:00","dateModified":"2022-03-11T17:41:39+00:00","mainEntityOfPage":{"@id":"https:\/\/www.africa-press.net\/namibia\/all-news\/forex-investors-not-truthful-pgimalwa-sticks-to-her-guns-on-preservation-order"},"wordCount":485,"commentCount":0,"image":{"@id":"https:\/\/www.africa-press.net\/namibia\/all-news\/forex-investors-not-truthful-pgimalwa-sticks-to-her-guns-on-preservation-order#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/03\/img-622b89bcf2e3f.jpg","keywords":["africa press","Africa Press-Namibia","namibia"],"articleSection":["all news","economy","homepage-english","twitter"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.africa-press.net\/namibia\/all-news\/forex-investors-not-truthful-pgimalwa-sticks-to-her-guns-on-preservation-order#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.africa-press.net\/namibia\/all-news\/forex-investors-not-truthful-pgimalwa-sticks-to-her-guns-on-preservation-order","url":"https:\/\/www.africa-press.net\/namibia\/all-news\/forex-investors-not-truthful-pgimalwa-sticks-to-her-guns-on-preservation-order","name":"Forex \u2018investors\u2019 not truthful - PG\u2026Imalwa sticks to her guns on preservation order - Namibia","isPartOf":{"@id":"https:\/\/www.africa-press.net\/namibia\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.africa-press.net\/namibia\/all-news\/forex-investors-not-truthful-pgimalwa-sticks-to-her-guns-on-preservation-order#primaryimage"},"image":{"@id":"https:\/\/www.africa-press.net\/namibia\/all-news\/forex-investors-not-truthful-pgimalwa-sticks-to-her-guns-on-preservation-order#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/03\/img-622b89bcf2e3f.jpg","datePublished":"2022-03-11T16:56:21+00:00","dateModified":"2022-03-11T17:41:39+00:00","author":{"@id":"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"description":"Prosecutor general Martha Imalwa has accused self-proclaimed forex trader Michael Amushelelo\u2019s investors of not being tr ...","breadcrumb":{"@id":"https:\/\/www.africa-press.net\/namibia\/all-news\/forex-investors-not-truthful-pgimalwa-sticks-to-her-guns-on-preservation-order#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.africa-press.net\/namibia\/all-news\/forex-investors-not-truthful-pgimalwa-sticks-to-her-guns-on-preservation-order"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/namibia\/all-news\/forex-investors-not-truthful-pgimalwa-sticks-to-her-guns-on-preservation-order#primaryimage","url":"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/03\/img-622b89bcf2e3f.jpg","contentUrl":"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/03\/img-622b89bcf2e3f.jpg","width":720,"height":459,"caption":"Forex \u2018investors\u2019 not truthful - PG\u2026Imalwa sticks to her guns on preservation order"},{"@type":"BreadcrumbList","@id":"https:\/\/www.africa-press.net\/namibia\/all-news\/forex-investors-not-truthful-pgimalwa-sticks-to-her-guns-on-preservation-order#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.africa-press.net\/namibia\/"},{"@type":"ListItem","position":2,"name":"Forex \u2018investors\u2019 not truthful – PG\u2026Imalwa sticks to her guns on preservation order"}]},{"@type":"WebSite","@id":"https:\/\/www.africa-press.net\/namibia\/#website","url":"https:\/\/www.africa-press.net\/namibia\/","name":"Namibia","description":"Just another Africa News Agency Sites site","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.africa-press.net\/namibia\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb","name":"cfeditoren","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","caption":"cfeditoren"}}]}},"_links":{"self":[{"href":"https:\/\/www.africa-press.net\/namibia\/wp-json\/wp\/v2\/posts\/14608","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.africa-press.net\/namibia\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.africa-press.net\/namibia\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/namibia\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/namibia\/wp-json\/wp\/v2\/comments?post=14608"}],"version-history":[{"count":0,"href":"https:\/\/www.africa-press.net\/namibia\/wp-json\/wp\/v2\/posts\/14608\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/namibia\/wp-json\/wp\/v2\/media\/14607"}],"wp:attachment":[{"href":"https:\/\/www.africa-press.net\/namibia\/wp-json\/wp\/v2\/media?parent=14608"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.africa-press.net\/namibia\/wp-json\/wp\/v2\/categories?post=14608"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.africa-press.net\/namibia\/wp-json\/wp\/v2\/tags?post=14608"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}