Former NAMCOR Managing Director Immanuel Mulunga told the court that one of the reasons he lost his job was due to an error in the reallocation of funds used to purchase assets from Enercon for N$53 million.
The Development Bank of Namibia (DBN) has taken Enercon Namibia and its directors to the High Court to recover over N$28 million in unpaid loans.
According to court documents, the amount relates to two loan agreements signed between DBN and Enercon.
Defence lawyer Sisa Namandje concluded his case in the bail application of Malakia Elindi, his wife Lydia, and brother Peter Elindi, who are accused of fraud, money laundering, and other charges in connection with the NAMCOR fuel supply deal.
On the second day of his bail hearing, Peter Elindi told the Windhoek Magistrate's Court that the Anti-Corruption Commission acted with malice by arresting him without giving him an opportunity to explain his side of the story.
