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Coenie Botha’s newest judicial deception in Namibia sees him claiming that operating his Ponzi scheme costs him $62,150 per month.

This is predicated on a carve-out from the Bank of Namibia in March, which required the Bank of Namibia to unfreeze enough for CBI Global to fulfill its “day-to-day operations.”

CBI Global is a defunct MLM crypto Ponzi fraud managed by a single individual. What are the operations and costs?

The Bon, understandably, reacted angrily to Botha’s ludicrous assertions.

According to New Era,

The central bank’s compliance officer, Romeo Nel, is hesitant to release the cash because he isn’t convinced that it would be used for its original purpose and will instead be used to disperse the assets.

It appears that Bon would only release the cash if Botha could ensure that they would not be utilized to keep paying investors.

Instead of agreeing, Botha filed a court case asking that Bon “release slightly over N$3 million for the period March to May.”

(Botha) also wants the court to stop Nel and Immanuel Murwira, the approved official at Bank Windhoek, from impeding the implementation of the March court ruling and illegally placing restrictions on the monies’ release.

The current exchange rate for N$3 million is around USD 62,150. Botha is said to have given Bon “cost information” to explain the sum.

CBI Global was, once again, a Ponzi fraud. CBI Global’s only business operations are to enrich Botha and early investors, leaving aside the ridiculousness of permitting a Ponzi scheme to claim “day-to-day operating” expenditures.

Whether it’s $62,150 a month or more, Botha shouldn’t be able to avoid regulatory action to continue operating his Ponzi scheme.

In their response, the two banks and their officials claim that if the interdict is granted, it might result in the dissipation of cash seized by CBI in violation of the Banking Institutions Act, based on reasonable suspicion.

They further claim that CBI is interpreting the March court ruling incorrectly and that it does not meet the standards for an urgent application or a final injunction.

They claim that the application suffers a substantial setback since it mostly comprises conclusions that are not supported by facts or evidence.

Botha’s application is still awaiting a ruling.

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