City pension fraud suspects’ bail cut

WERNER MENGES FOUR of the eight people who were arrested last week in connection with allegations that they had defrauded the City of Windhoek’s pension scheme of some N$3,34 million made a second court appearance yesterday to have their bail reduced and bail conditions altered.

Appearing before Magistrate Helvi Shilemba for a second time yesterday were Olga Moller (31), a former employee of Alexander Forbes, which administers the City of Windhoek’s pension fund, and City employees Jan Johannes Jansen (46), Jeremia Metaatu (41) and Severen Iyambo (39). They also appeared before the Magistrate for a first time on Thursday last week.With their first appearance, they were each granted bail of N$50 000.Only Moller managed to pay the bail.She returned to court yesterday to ask that one of her bail conditions, which requires that she should report at the Windhoek Police Station each Monday and Friday, be changed so that she can report at the Rehoboth Police Station instead.Jansen was back in court so that his bail could be reduced to N$25 000, while Public Prosecutor Ingrid Husselmann further agreed that the bail of Metaatu and Iyambo could be reduced to N$10 000 each.The suspects are accused of fraud in connection with claims that they played a part in an alleged fraud scheme involving both the City of Windhoek pension scheme and the City’s pension fund administrators, Alexander Forbes between October 2004 and February 2005.The fraud is alleged to have been committed through the fraudulent granting of loans, supposedly earmarked to finance building work or home improvements being undertaken by City employees, against the employees’ pension funds.In a statement issued late last week, Alexander Forbes stated that the operations of “a fraud syndicate” was discovered during early November 2005 through a forensic audit that was done at Alexander Forbes by a local firm.Another former employee of company, Sharon Desiree Ramann (44), is also among the eight people charged in the case.Ramann was also granted bail of N$50 000 on Thursday last week, as was a building contractor, Desmond Gregory Stramis (44), and another accused, Hendrik Fransisko Davis (40).Another City employee, Alta Norma Visser (41), was granted bail of N$5 000 on Thursday.The eight suspects have to appear in court again on August 1.They also appeared before the Magistrate for a first time on Thursday last week.With their first appearance, they were each granted bail of N$50 000.Only Moller managed to pay the bail.She returned to court yesterday to ask that one of her bail conditions, which requires that she should report at the Windhoek Police Station each Monday and Friday, be changed so that she can report at the Rehoboth Police Station instead.Jansen was back in court so that his bail could be reduced to N$25 000, while Public Prosecutor Ingrid Husselmann further agreed that the bail of Metaatu and Iyambo could be reduced to N$10 000 each.The suspects are accused of fraud in connection with claims that they played a part in an alleged fraud scheme involving both the City of Windhoek pension scheme and the City’s pension fund administrators, Alexander Forbes between October 2004 and February 2005.The fraud is alleged to have been committed through the fraudulent granting of loans, supposedly earmarked to finance building work or home improvements being undertaken by City employees, against the employees’ pension funds.In a statement issued late last week, Alexander Forbes stated that the operations of “a fraud syndicate” was discovered during early November 2005 through a forensic audit that was done at Alexander Forbes by a local firm.Another former employee of company, Sharon Desiree Ramann (44), is also among the eight people charged in the case.Ramann was also granted bail of N$50 000 on Thursday last week, as was a building contractor, Desmond Gregory Stramis (44), and another accused, Hendrik Fransisko Davis (40).Another City employee, Alta Norma Visser (41), was granted bail of N$5 000 on Thursday.The eight suspects have to appear in court again on August 1.