CBI Global Review- Scam

  • 6

In his latest legal scam in Namibia, Coenie Botha said that it costs $62,150 a month to run his Ponzi scheme. This is because the Bank of Namibia had to unfreeze enough money in March so that CBI Global could do its “day-to-day business.”

CBI Global is a one-man-run MLM crypto Ponzi scheme that has failed. What are the operations and costs? The BoN naturally pushed back on Botha’s ridiculous claims.

According to New Era, the compliance officer at the central bank, Romeo Nel, doesn’t want to give out the money because he isn’t sure that it will be used for what it was supposed to be used for. Instead, he thinks that the money will just be wasted.   

It looks like BoN would only give the money to Botha if he could promise that it wouldn’t be used to keep paying investors.   

Botha went to court to demand that BoN “release just over N $3 million for the period of March to May.” BON did not agree, so Botha went to court.   

(Botha) also wants the court to stop Nel and the authorized officer at Bank Windhoek, Immanuel Murwira, from stopping the March court order from being carried out and from putting illegal conditions on the release of the funds.   

At the moment, N $3 million is worth about $62,150 USD. Botha is said to have given BoN “expense details” to explain the amount. Again, CBI Global was a fraud. Even if you ignore how silly it is to let a Ponzi scheme claim expenses for “day-to-day operations,” CBI Global’s only business is to make Botha and early investors rich. Botha shouldn’t be able to avoid regulatory action and keep running his Ponzi scheme, even if it doesn’t add up to $62,150 a month.   

In their response, the two banks and their officers say that if the interdict is granted, it could lead to the dissipation of public funds obtained by CBI in violation of the Banking Institutions Act if there is reasonable suspicion.  

They also say that the CBI has the wrong idea about what the court order from March means and that it does not meet the requirements for an urgent application or a final interdict.   

In general, they say, the application takes a big hit because it is mostly made up of conclusions that are not backed up by facts or evidence.   

Botha’s application is still being looked at.

In his latest legal scam in Namibia, Coenie Botha said that it costs $62,150 a month to run his Ponzi scheme. This is because the Bank of Namibia had to unfreeze enough money in March so that CBI Global could do its “day-to-day business.” CBI Global is a one-man-run MLM crypto Ponzi scheme that has…

In his latest legal scam in Namibia, Coenie Botha said that it costs $62,150 a month to run his Ponzi scheme. This is because the Bank of Namibia had to unfreeze enough money in March so that CBI Global could do its “day-to-day business.” CBI Global is a one-man-run MLM crypto Ponzi scheme that has…

Leave a Reply

Your email address will not be published.