Maseru, Mar. 09 — Advocate Karabo Mohau (KC), one of the defence lawyers in a case against two lawyers, Moroesi Tau-Thabane and John Mosuoe, are charged with theft, money laundering, fraud and corruption, says the prosecution has failed to prove a case beyond reasonable doubt against the accused therefore they should be acquitted.
This he said when addressing the court during an application for discharge which has been moved by the accused in terms of section 175 (3) of Criminal Procedure and Evidence Act.
The accused who were appointed as co-liquidators of Presitex Enterprises, are alleged to have unlawfully assisted Director of Presitex, Madhav Visant Dalvi to devalue and buy Presitex at low cost.
Adv. Mohau argued that there is no evidence to substantiate the money laundering charges and all charges against the accused. He added that the prosecution has not proved that the accused knowingly participated in the alleged illicit transactions.
He indicated that there is no evidence to support the allegation that the accused embezzled money to their benefit. He further added that there is no basis that they should have investigated the companies which Presitex was in business with.
The accused are among others accused of abuse of function of office as well as failure to report major transactions to the Master of the High Court. They are further accused of misappropriation, diversion and embezzlement of properties and money to their benefit.
A preamble presented before court indicates that in a scheme to devalue Presitex and buy it at close to nothing, Dalvi and his associates, or employees of Presitex incorporated companies such as Nazimada Textiles FZE, Chane Merchants, Denimagic PTY Ltd and Alchemy. It adds that the companies were used to siphon money and launder Presitex asserts.
“As a final act Madhav Visant Dalvi orchestrated a liquidation of a very liquid company as per the Audits”, says the preamble. ” An application for liquidation was filed by Nazimada Textiles FZE, whose shareholder is Sharmala Roya, who at all material times was an employee of Presitex, holding a position of Admin Manager, employed on a full-time basis,” it adds.
It further adds that after the application was granted, the accused were appointed as co-liquidators tasked with the establishment and performance of due diligence on a company that brought about the liquidation. It states that their job was to also take control of asserts and preserve them. It however indicates that in furtherance of common purpose, they took instructions from Dalvi to conspire to commit, associate, participate and facilitate the execution of the scheme.
“Upon taking control of the business, the liquidators by extension pursued assets of Dalvi instead of that of Presitex. A company by the name of Chane Merchants, fully owned by Dalvi’s son and Dalvi as the beneficial owner, was paid millions without giving Presitex any value,” states the preamble.
It emphasises that the payment was done through Presitex in a liquidation account which was under the control of the co-liquidators. It adds that Chane Merchants which aided the co-liquidators was specifically incorporated to launder Presitex assets.
The case is before Chief Justice Sakoane Sakoane.
Ends/SM/tl
