PROSECUTION ADDS SIX MORE COUNTS TO TEGETA ESCROW SUSPECTS - FINANCIAL-24
Dar es Salaam — Prosecution has added six more counts against the key suspects in the infamous Tegeta escrow scandal, Mr Harbinder Singh Sethi and Mr James Rugemalira.
The charges including five money laundering counts were read yesterday before Principal Resident Magistrate Huruma Shaidi after prosecution made an amendment of the charge sheet.
The duo who were first arraigned in June 19 are now facing twelve counts including money laundering and occasioning over Sh358 billion to the government.
They were not allowed to enter any plea to the charges that was read by principal state attorney Shadrack Kimaro because the court lacks jurisdiction to hear the case which filed under economic and organized crime control act and were remanded due to the nature of money laundering offenses which is unbailable according to the Tanzanian law.
The case will come up for mention on July 14 as investigation is incomplete, according to the prosecution.
Prosecution told the court that, the accused also facing economic sabotage charges relating to causing the government a loss of $22, 198, 554 and Sh309, 461, 300, 158.
Mr Rugemalira who owned 30 per cent stake in IPTL and Sethi who is the executive chairman of Pan African Power Solution (PAP) committed the offence between October 18, 2011 and March 19, 2014.
The prosecution accused Mr Sethi of forging a company registration certificate in October 2011 and lying that he was a Tanzanian resident living in Masaki area while knowing it was not true.
Both the accused were said to have illegally withdrawn $22,198,554.60 and Sh309.461 billion from the escrow central bank account. The offences were committed between November 28/29, 2011 and January 23, 2014 at the Stanbic Bank headquarters in Kinondoni.
In respect of the money laundering counts, the duo alleged in different dates between year 2013 and 2014 withdraw US$ 22,198,544.60 and Sh309,461,300.27 from different accounts and the Bank of Tanzania (BoT), Stanbic bank Tanzania and Mkombozi bank St Joseph Cathedral branch.
The accused alleged withdrew the money while knowing that the money is the fruits of the predicate offenses.
It was further alleged that, in January 28, 2014 at the Stanbic bank, Mr Seth transferred Rand 1,305,800 to Standard bank at Sandton Johannesburg.
The Citizen
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