Three men who allegedly defrauded the President of the Botswana Chamber of Mines (BCM), Montwedi Mphathi, were last week granted conditional bail by a Francistown Magistrates court.
Hendry Lowe (41), Marlon Lowe (22), and Junior Moyo (21) were ordered to each pay P10 000 and to get one surety who would bind themselves with the same amount.
The trio allegedly obtained the sum of P1.3 million from Mphathi on various occasions, spanning from June 2020 to March 2023 under false pretenses that they were investing the funds in forex trading.
Appearing in court last week, Sesafeleng Dijeng of the Directorate of Public Prosecutions told the court that investigations were progressing well. “Some exhibits in the form of cars have been preserved and we are yet to approach all banks to get assistance and some banks have responded to our call,” said Dijeng.
According to court papers, the accused persons are facing twelve counts.
Some of the funds were said to be used for commission payments, delayed payments, agent fees, brokers’ fees, and transfer fees.
The accused individuals, according to the State, purportedly did so with full knowledge that their representation was untrue.