Namibian self-proclaimed forex expert and businessman Michael Amushelelois in hot water as he is accused of duping investors out of millions by promising them high returns.
According to The Namibian, the businessman and his business partner Gregory Cloete are facing 365 criminal charges.
The duo appeared at Windhoek High Court yesterday, facing charges of theft by false pretenses, money laundering, racketeering, running a Ponzi scheme, and failing to pay taxes, but Amushelelo is facing more charges.
Their case was postponed to 18 November 2021. They are also accused of maintaining their lavish lifestyle using the investor's money. Amushelelo reacted to the charges in a post on his Instagram account that said "The government wants to bury us, they went from 4 charges to 365 charges. Damn it’s amazing how far politicians will go to settle a score. However, we won’t back down POWER TO THE PEOPLE"
