Forex traders Michael Amushelelo and Gregory Cloete have indicated to Windhoek High Court Judge Claudia Claasen that they would consider bringing a recusal application against her for perceived bias.
Judge Claasen is the judicial officer that was assigned to preside over their trial on various charges of contravening the Banking Act.
Also charged are legal entities Amushe Hello Investment, Amushe Advertising & Design, Amushe International Holding, Van Der Walt Trailer Manufacturing, Amushelelo Family Trust T187/2019 and Global Growth Investment Namibia – all represented by Amushelelo as founder and sole member.
The charges are 348 counts of 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. Overall, the accused faces 365 counts.
According to the charge sheet, Amushelelo and Cloete worked in a partnership, collaboration and/or in collusion with one another in a fraudulent enterprise formulated and operated as a Ponzi scheme.
It is further alleged that they advertised two types of investment facilities which they offered through a non-registered company in the name of Global Growth Investment Namibia to members of the public through face-to-face seminars, Facebook, Twitter, WhatsApp, Instagram and various other social media network platforms under the guise that the invested funds would be traded on Foreign Currency…