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Bushiri fraud case: Co-accused paid off R8m loan while behind bars, court hears

RefilweSylvester
By RefilweSylvester | self meida writer
Published 17 days ago - 2360 views

Williah Mudolo is one of Bushiri's co accused ,who just repaid R8.2 million loan , Mudolo was in Magistrate court on a Monday in Pretoria for the continuation of his bail application ,the state was opposing it though ,


Bushiri and his wife Mary ,Mudolo and his wife Zethu ,and Landiwe Ntlokwana are facing not one but multiple charges of money laundering , theft and fraud in relation to an investment scam which defrauded investors R102 million.

Bushiri and his wife where granted bail by the Pretoria magistrate in November zand have since fled the country , returning to Malawi their homeland.


Mudolo's wife and Ntlokwana ,where granted bail ,which where heard at the same time as the Bushiri's application ,which means Mudolo is the only accused still in custody

Mudolo told the court that the bond on ,his house had been paid off and he will pledge the premises as security for his bail ,however on Monday a chief investigator took the stand opposing the bail application , said that Mudolo had an outstanding balance on the loan of R8 248 404.88 , which was taken out against the property.


The outstanding balance was paid in full while Mudolo was arrested , and incarcerated in Kgosi Mampuru prison.


The chief investigator went on saying "this shows that accused number 1 (Mudolo) has vast amounts of funds even ,when he is in jail which ,means he remains a major flight risk" and also the company which grantee Mudolo the ,Loan confirmed that the outstanding balance had been ,paid and also provided the dates ,when the payments where made by this company ,which Mudoro is a Director.

The investigating officer also went on to providing detailed evidence , showing that Mudolo on 3 different occasions , before he was arrested had visited OR Tambo international airport ,on the 13,16 and 17th of October , after he was made aware that he was under investigation ,on one occasion Mudolo's passport was scanned for a Dubai flight ,he then called Mudolo's attorneys who called Mudolo and told him not to board the plane ,On 16 October, his passport was scanned again for another flight to Dubai.


The Hawks went to arrest Mudolo but he had left the airport without boarding the flight, the court heard. A day later, his passport was scanned for a third time, but he was arrested before he could board , his wife was arrested at their home in ,Sandhurst on the same day. CCTV footage was also handed in as evidence which captured Mudolo at the airport on the days that his passport had been scanned.

The investigating officer also ,mentioned that Mudolo had more than one passport , but one has the wrong date of birth registered ,which is the passport used to register businesses ,get married to his wife and also used to open bank accounts.


The court also was enlightened that Mudolo ,has a bank account with funds and property in UK. , adding to the fact that he is ,indeed a major flight risk , The court was also told Mudolo ,and his wife played a major role in the alleged investment scam and they shall be prosecuted even ,without the Bushiri's presence in court.

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