The trail of the US$12,828m

THE Ministry of Finance transferred US$12,828 million into the account of Nuctech Company in China on February 27.

Teko Trading signed an ‘Agency Agreement’ and a ‘Contract for Consultancy Services’ with Nuctech.Nuctech transferred US$4,229 (N$42 061 859,47) into Teko Trading account between March 11 and 12.On March 12, Teko Trading payed N$4 million into each of the bank accounts of Teckla Lameck and Mokaxwa (equal partners in Teko Trading) and a further N$16,824 million into Yang Fan’s account. Tecko Trading further splashed N$727 468 on two Landcruiser vehicles – one registered in the name of Lameck’s husband and the other Mokaxwa’s. Lameck’s husband also became a beneficiary of a luxury Lexus LS 460 at a price tag of N$916 732.Mokaxwa further bought himself a Mercedes-Benz station wagon for N$666 133 on March 16. Lameck and her husband acquired a farm for N$3 million on March 20 in the Otjozondjupa Region, again paid for from the Teko account.Mokaxwa followed suit and bought himself a farm of N$4,15 million also on April 3, in addition to buying a house for N$3,4 million in the up-market residential area of Ludwigsdorf.In a matter of twelve weeks Teko Trading’s bank account was depleted to a level of N$7,39 on June 2, just a little more than its starting balance of N$0,80 before March 11 when the US$4,229 was paid in by Nuctech.