Maseru, May 16—- Mohammed Jemsheed Jezail Marikkar of Presitex Pty Ltd together with Tseko Bohloa and Mathabo Klaas have been each granted M10,000.00 bail by the Magistrate Court following their appearance before the same court charged with money laundering.
Bohloa and Klaas were each ordered to provide surety in a form of immovable property amounting to M100,000.00 while Marikkar was ordered to find a M100,000.00 bank guaranteed bond.
It is alleged that Presitex Enterprises PTY Ltd and CGM Group received loans from the government of Lesotho in 2013 and 2014 which were a financial stimulus to help textile firms. It is further alleged that they failed to honour their obligation to repay the loans granted to them. It is added that they also orchestrated a corrupt scheme of embezzling and misappropriating funds…
