Namibian Ex Minister and Investec Manager Arrested For Corruption

The Namibian police arrested the former Minister of Fisheries Bernhardt Esau and a former senior manager of investment firm Investec on charges of corruption. Police Inspector-General Sebastian Ndeitunga says Esau and the former client manager of Investec Asset Management in Namibia, Ricardo Gustavo, have been formally charged and are expected to appear in court within 48 hours. Esau and Gustavo were arrested following allegations they were involved in a fishing scheme that generated kickbacks of at least 150 million Namibian dollars ($10.20 million). Esau has denied any wrongdoing and Gustavo could not be reached for comment. Esau and Justice Minister Sakeus Shanghala quit earlier this month over the bribery claims made in media reports. The two former ministers are alleged to have awarded horse mackerel quotas to Iceland’s biggest fishing firm Samherji in exchange for bribes. Samherji says it has hired a law firm to investigate the allegations.

The Namibia managing director of South African investment firm Investec James   Hatuikulipi resigned two days after the ministers after allegations that he spearheaded   the scheme, while Gustavo was suspended.

Culled from Reuters