10 Mar 2026

Two South African nationals and four Batswana appeared before Broadhurst Regional Magistrate Mareledi Dipate on Friday, each facing eight counts of theft by agent. 

Bluthorn Fund Managers’ management, Eune Engelbrecht, Motlamedi Matome, Jeffery Sibisibi, Joseph Mosimane, Shirley Kamodi, and Joseph Batsalelwang, acting as agents, are alleged to have defrauded councils and a land board of P102 million that was intended for investment purposes.

The accused are alleged to have obtained P40 million from Ghanzi District; P2 million from Hukuntsi Sub-District; P15 million from Letlhakeng Sub-District; P10 million from Southern District; P10 million from Mahalapye Sub-District; P10 million from South East District; P5 million from Tlokweng Sub-District councils; and P10 million from Tlokweng Land Board.

The state did not oppose granting the accused persons bail. Mr Dipate granted each accused persons’ conditional bail, binding themselves with the sum of P10 000 bail, with each required to provide two sureties of the same amount. The accused persons were also advised not to interfere with state witnesses. The case will mention on May 19.

In another matter, CMB directors Rapula Okaile and Gordon Marsland, who was not present in court are facing 61 counts, which included theft by servant. They are accused of stealing over P42 million entrusted to them for investment purposes in December 2017 in Gaborone, acting as agents of BPOPF. Okaile’s next appearance before court is on May 14, when he will be arraigned for all 61 counts. BOPA