Documentary evidence given to this publication reveals the gory details of how Capital Management Botswana (CMB) directors Rapula Okaile and Tim Marsland squandered P120 million belonging to the Botswana Public Officers Pension Fund (BPOPF), after it was transferred from a joint BPOPF/CMB partnership account to the personal accounts of the duo and their associates to finance a lavish lifestyle.

Evidence unearthed by the DCEC reveals that Rapula Okaile, and then Managing Director of CMB transferred money totaling P8.8 million into his personal account. According to the DCEC, on the 20th of April 2017, P2.7 million was moved from Capital Management Botswana Fund 1 (CMBF1) FNB account to Okaile’s FNBB Account number 62539465501. On the 17th of May 2017, a further P4.9 million was moved from the CMBF1 account to Okaile’s other FNB account number GB40FIN40644020043007 based in the Channel Islands. On the 28th of September 2017, P200 000 was credited into Okaile’s FNBB account here in Botswana and a further P1 million was paid into his account on the 1st of November 2017.

Okaile’s co-charged partner, Marsland had P6 million transferred to his First National Bank Botswana (FNBB) account number 62228875029 on the 12th of April 2017. A further P1.7 million was transferred into the same account on the 15th of June 2017. Marsland further received P2.1 million into the same account on the 16th June 2017. In total, P9.9 million was moved from CMBF1 account into Marsland’s account.

As a collective, approximately P19 million was moved from, CMBF1 into Marsland and Okaile’s personal accounts. On the 25th of July 2017 and on the 21st of September 2017, two transactions of P6 million each were paid to FNBB Account number 62360079662 belonging to Capital Management Africa (CMA). The company is also owned by Marsland.

On the 20th April 2017 and also on the 3rd of July 2017, two transactions of P75 000 were transferred respectively into the personal account number of former Minister of Minerals Sadique Kebonang. The money was credited into FNBB account number 62371817184.

In other transactions, TUNOSAST (Pty) Ltd in its FNBB account number 62669928817 was credited with two transactions in separate dates on 2017. In June 16th, the account was paid P2.1 million.

A further P4 million was paid in July the 25th. Emsite (Pty) Ltd was credited with P4 million on the 6th of February 2017.
Still benefitting from the proceeds of crime according to the DCEC, P2.5 million was paid to Trudy Camping And Travelling Tours in its FNBB Account number 62480048941.

A company called Varsity League (Pty) Ltd received funds exceeding P2.8 million between February 2017 and November 2017 in its Barclays Account number 1433669.

Briscoe Attorneys (Pty) Ltd between April and July 2017 received three transactions of P250 000 each, totaling P750 000 in its Standard Chartered Bank Botswana account number 0100175000901.

Further, P24.9 million was debited into a Standard Bank RSA account number 200897462 belonging to Sherewa Investment in June 2016. It also emerges that two transactions of P33.5 million and P3 million were transferred to FNB South Africa Account number 62643979505 belonging to Manor Squad Services on the 4th of October 2016 and 28th of July 2017.

DCEC investigations found that 11 transactions of the same amount of P75 000 were paid into FNB South Africa account number 62622317263 belonging to Adam Robert Hudgson. The money totaled P825 000.

From September 2016, 14 transactions of the same amount of P75 000 were transferred from the CMBF1 account to an FNB South Africa account number 62207088023 which belongs to Wayne Steven Ollewagen. The money totalled P1 050 000.

From March 2017 to December 2017, money exceeding P1.6 million was also transferred from the CMBF1 account to FNB South Africa account number 62055465481 belonging to Rasoava Rijamampianina.

Money was also transferred in 8 installments to a FNB South Africa account number 62662020777 belonging to Colin Stuart Rowley from December 2016 to November 2017. The money exceeded P1.1 million.

Furthermore, three transactions were made from CMBF1 account to a Standard Bank South Africa account number 2921332 on separate dates in August 2017 to November 2017. The account number which belongs to LMJ Consulting (Pty) Ltd received P5.1 million, P1.7 million and P2.7 million respectively which piled up to over P9.6 million.