Botswana Public Officers Pension Fund (BPOPF) was narrowly spared from being caught in a mess that engulfed the liquidated Bluthorn Fund Managers (BMF), it has emerged. A creditors’ hearing that is going on before Master of the High Court Chipo Gaobatwe heard how founders of Bluthorn established front companies using names of unsuspecting Batswana to siphon millions from BPOPF.
The ongoing interrogation provides a window into how millions of pula could have been sucked from the richest Fund in the country. Details of how some locals were made directors of fronting companies without their consent to spirit away millions from BPOPF were laid bare during interrogation by attorney Sipho Ziga, who represents BFM liquidator Kopanang Thekiso.
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