Rapper KK gets N$65 000 bail for fraud
Former rapper Kadeen ‘KK’ Kaoseb is out on bail of N$65 000 after he was arrested for alleged fraud, detective Mathew Kuumbwa of the Namibian Police has confirmed.
Kaoseb apparently forged Petronella Masabane’s signature on an order form for over N$2.6 million, while using a health ministry letterhead. Masabane is the former deputy executive director of the health ministry.
This while Kaoseb was already granted bail of N$10 000 in the Windhoek Magistrate's Court by Magistrate Victoria Ngula in February.
‘Out of control’
According to a source close to the matter, Kaoseb admitted to falsifying the document to get bridge financing. He reportedly said he did it because he owed people money and “things got out of control”. Bridge financing - also known as a bridge loan - is short-term financing used until a person or company secures permanent financing.
Kaoseb allegedly said he owed money to pharmaceutical company Namkit. The forged document was made out to Facai Investments, a company Kaoseb is involved in.
He reportedly said the money was paid into an account linked to his friend's company, Capo Pharmaceuticals, and that he asked that the money be paid directly to Namkit. At that time, Kaoseb felt that he had "no other choice", the source said.
According to the ‘Khaima’ hitmaker, it is a priority for him to repay the 'bridge financing' - to the tune of N$2 674 175 - but he “needs time” to do so.
Conflict of interest
The Namibian's investigative unit previously reported that Kula Ithana, a nurse at Windhoek Central Hospital, was one of the members of an evaluation committee that awarded a tender worth N$2.4 billion to Facai Investments, which was owned by her niece, Kuna Mushimba, and Kaoseb. Mushimba and Kaoseb reportedly have a child together.
According to the Central Procurement Board of Namibia (CPBN), Ithana did not declare the conflict of interest.
The Namibian reported that Mushimba resigned from her position at Facai two weeks after applications for the medical tender closed.
She told The Namibian: "My family doesn't know anything about KK and they don't even know what he does. So, if my own mother doesn't even know what he does, how will my aunt know?"
Kaoseb apparently forged Petronella Masabane’s signature on an order form for over N$2.6 million, while using a health ministry letterhead. Masabane is the former deputy executive director of the health ministry.
This while Kaoseb was already granted bail of N$10 000 in the Windhoek Magistrate's Court by Magistrate Victoria Ngula in February.
‘Out of control’
According to a source close to the matter, Kaoseb admitted to falsifying the document to get bridge financing. He reportedly said he did it because he owed people money and “things got out of control”. Bridge financing - also known as a bridge loan - is short-term financing used until a person or company secures permanent financing.
Kaoseb allegedly said he owed money to pharmaceutical company Namkit. The forged document was made out to Facai Investments, a company Kaoseb is involved in.
He reportedly said the money was paid into an account linked to his friend's company, Capo Pharmaceuticals, and that he asked that the money be paid directly to Namkit. At that time, Kaoseb felt that he had "no other choice", the source said.
According to the ‘Khaima’ hitmaker, it is a priority for him to repay the 'bridge financing' - to the tune of N$2 674 175 - but he “needs time” to do so.
Conflict of interest
The Namibian's investigative unit previously reported that Kula Ithana, a nurse at Windhoek Central Hospital, was one of the members of an evaluation committee that awarded a tender worth N$2.4 billion to Facai Investments, which was owned by her niece, Kuna Mushimba, and Kaoseb. Mushimba and Kaoseb reportedly have a child together.
According to the Central Procurement Board of Namibia (CPBN), Ithana did not declare the conflict of interest.
The Namibian reported that Mushimba resigned from her position at Facai two weeks after applications for the medical tender closed.
She told The Namibian: "My family doesn't know anything about KK and they don't even know what he does. So, if my own mother doesn't even know what he does, how will my aunt know?"
Comments
Namibian Sun
No comments have been left on this article