Another setback for alleged GIPF fraudster
More than N$650 000 forfeited to State
A High Court judge on Monday granted an application by the prosecutor general to forfeit money held in Martin Eugene Smith's name.
A former employee of the Government Institutions Pensions Fund (GIPF) who was accused of fraud has forfeited approximately N$656 000 to the State.
This comes after prosecutor general Martha Imalwa filed several forfeiture applications at the Windhoek High Court.
Imalwa had already applied in 2023 for the positive balances in three of Martin Eugene Smith’s accounts to be handed over to the State. Later that year, she also approached the court regarding other accounts in Smith's name at Standard Bank Namibia, Stanlib Namibia Unit Trust Management Company and Capricorn Asset Management, which, according to court documents, totalled nearly N$5 million.
High Court judge Esi Schimming-Chase granted one of Imalwa's applications on Monday for the money Smith held in an account at Ecosun Agriculture Trading cc – a contractor believed to have handled his construction project.
The money was forfeited to the State despite the fact that the criminal charges against Smith and his former colleague at GIPF, Vabiola Aoses, were dropped in July 2023.
“It has no impact on the forfeiture application. The validity of the order is not affected by the outcome of criminal proceedings related to an offence with which the property in question is in any way connected,” Imalwa argued in her sworn statement.
'Fraudulent incidents'
Smith and Aoses stood trial on charges of fraud, forgery and money laundering. The scheme was uncovered after GIPF received a complaint in July 2022 from someone who was no longer receiving their monthly benefits.
After an investigation, it was discovered that the payments were up to date but had been transferred to another account.
"On 10 August 2022, GIPF uncovered a number of other fraudulent incidents where payments had been made to various accounts that did not belong to GIPF members. This involved about 46 bank accounts," reads Imalwa's statement supporting her application.
Initial investigations indicated that the fraud amounted to more than N$17 million.
The investigation reportedly further revealed that Smith and Aoses' subscription details were used to make changes in the system.
Aoses was suspended on 12 August 2022 and Smith on 15 August that same year.
Following this, the Namibian Police became aware of Smith's account at Ecosun Trading, which had a credit balance of N$636 955. This is the latest amount that has been forfeited to the State.
– [email protected]
This comes after prosecutor general Martha Imalwa filed several forfeiture applications at the Windhoek High Court.
Imalwa had already applied in 2023 for the positive balances in three of Martin Eugene Smith’s accounts to be handed over to the State. Later that year, she also approached the court regarding other accounts in Smith's name at Standard Bank Namibia, Stanlib Namibia Unit Trust Management Company and Capricorn Asset Management, which, according to court documents, totalled nearly N$5 million.
High Court judge Esi Schimming-Chase granted one of Imalwa's applications on Monday for the money Smith held in an account at Ecosun Agriculture Trading cc – a contractor believed to have handled his construction project.
The money was forfeited to the State despite the fact that the criminal charges against Smith and his former colleague at GIPF, Vabiola Aoses, were dropped in July 2023.
“It has no impact on the forfeiture application. The validity of the order is not affected by the outcome of criminal proceedings related to an offence with which the property in question is in any way connected,” Imalwa argued in her sworn statement.
'Fraudulent incidents'
Smith and Aoses stood trial on charges of fraud, forgery and money laundering. The scheme was uncovered after GIPF received a complaint in July 2022 from someone who was no longer receiving their monthly benefits.
After an investigation, it was discovered that the payments were up to date but had been transferred to another account.
"On 10 August 2022, GIPF uncovered a number of other fraudulent incidents where payments had been made to various accounts that did not belong to GIPF members. This involved about 46 bank accounts," reads Imalwa's statement supporting her application.
Initial investigations indicated that the fraud amounted to more than N$17 million.
The investigation reportedly further revealed that Smith and Aoses' subscription details were used to make changes in the system.
Aoses was suspended on 12 August 2022 and Smith on 15 August that same year.
Following this, the Namibian Police became aware of Smith's account at Ecosun Trading, which had a credit balance of N$636 955. This is the latest amount that has been forfeited to the State.
– [email protected]
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