Botswana’s Biggest Financial Scandal Unfolds

Three high-profile businessmen in Botswana, Bakang Seretse and his co-accused, Botho Leburu and Kenneth Kerekang, have been remanded in custody after appearing before the Regional Magistrate’s Court facing money-laundering charges. This shocking turn of events marks one of the country’s biggest financial scandals.

The Allegations

According to court documents, Seretse, Leburu, and Kerekang received various sums of money between September 5, 2017, and November 27, 2017, in Gaborone. The allegations suggest that they knew or suspected that this money was derived from a confiscation offence - specifically theft.

The Scale of the Scandal

The case is believed to involve around P326 million from the National Petroleum Fund (NPF). This has sparked widespread outrage and concern about the scale of corruption involved. The investigation continues, leaving many wondering how such a large-scale scheme could have gone undetected for so long.

Next Steps

The three businessmen will appear for mention today after being remanded in custody. The case is expected to send shockwaves through the business community and beyond, as Botswana grapples with the implications of this massive financial fraud.

Key Points

• Three high-profile businessmen in Botswana have been charged with money-laundering
• The allegations involve around P326 million from the National Petroleum Fund (NPF)
• The case is believed to be one of the country’s biggest financial scandals
• The investigation continues, with many left wondering how such a large-scale scheme could have gone undetected for so long