• FMD surges in SAOctober 6, 2025
    Border villages,Tlokweng on high alert Cattle crossing into SA to be slaughtered Farmers to conduct FMD routine checks   BAKANG TIRO RelatedPosts FMD surges in SA Banks report P5.98 billion loan defaults Botswana Council of Churches calls for peace… Read more: FMD surges in SA
  • Banks report P5.98 billion loan defaultsOctober 6, 2025
    Government’s growing fiscal pressures escalate risks of default in household and business loan repayments   RelatedPosts FMD surges in SA Banks report P5.98 billion loan defaults Botswana Council of Churches calls for peace STAFF WRITER editors@thepatriot.co.bw Arrears on loans… Read more: Banks report P5.98 billion loan defaults
  • Botswana Council of Churches calls for peaceOctober 6, 2025
    GORATAONE KGOSIMORE editors@thepatriot.co.bw RelatedPosts FMD surges in SA Banks report P5.98 billion loan defaults Botswana Council of Churches calls for peace   Rev. Mmachakga Moruakgomo, representing the Botswana Council of Churches, on August 2025 undertook a diplomatic visit to… Read more: Botswana Council of Churches calls for peace
  • Botswana defends slaughtering elephantsOctober 6, 2025
    Global uproar over killing 21 elephants for Independence festivities KITSO RAMONO editors@patriot.co.bw RelatedPosts FMD surges in SA Banks report P5.98 billion loan defaults Botswana Council of Churches calls for peace   The Ministry of Environment and Tourism has confirmed… Read more: Botswana defends slaughtering elephants
  • BDC Group revenue surges to P802mOctober 6, 2025
    Lines up projects worth P1.2 billion in short-term Hails Delta Automotive milestones in growing regional market To unlock growth after US$12 billion AI Mansour Holdings deal STAFF WRITER editors@thepatriot.co.bw RelatedPosts FMD surges in SA Banks report P5.98 billion loan… Read more: BDC Group revenue surges to P802m
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
  • Login
  • Register
Tuesday, October 7, 2025
The Patriot On Sunday
Advertisement
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
No Result
View All Result
Cart / $0.00

No products in the cart.

  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
No Result
View All Result
The Patriot On Sunday
No Result
View All Result

DCEC closes in on ex BCL bosses

patriot by patriot
January 3, 2021
in News
0

Graft busters from the Directorate on Corruption and Economic Crime (DCEC) are closing in on former executive management team and Board of Directors of the now closed BCL Limited over allegations of looting the company through the POLARIS II Strategy.

BCL Ltd wholly owns BCL Mine and BCL Investments, as well as an 85% stake in Tati Nickel Mining Company. Highly placed sources have revealed that investigations by the corruption bursting agency with the assistance of Directorate of Intelligence Services (DIS) have unearthed crucial information, which proves that there have been some looting and money laundering during the ambitious project by the mine’s executive management.

RelatedPosts

FMD surges in SA

Botswana Council of Churches calls for peace

Botswana defends slaughtering elephants

A recently released status report by the BCL liquidator Dixon-Warren reveals that Directors refused to be investigated under oath over their role in the collapse of BCL Limited company. Information gathered by this publication has shown that during the POLARIS II Strategy  implementation  some top managers and directors found a loophole to loot money from the company through unscrupulous transactions and investing in companies  where due diligence was not done. Things took a downward spiral after the approval of the ambitious POLARIS II Strategy in 2015 which was meant transform the company into a diversified enterprise.

Properties

Now, some Directors are being investigated for buying properties in the upmarket leafy suburbs of Johannesburg and Cape Town. It is suspected the properties and farms are proceeds of kickbacks from the controversial ill-fated US$ 271 million deal by BCL Limited to acquire 50% shares in Nkomati Nickel from Norilsk Nickel.

It has emerged that the BCL board negotiated the deal with Norilsk Nickel who were also part of the same board. Two ex-executive managers of the defunct BCL Ltd are said to have bought properties in South Africa during the negotiations to buy 50% of Norilsk Nickel Shares at Nkomati Mine in South Africa as part of POLARIS II.

According to sources, some senior managers who were spearheading the POLARIS II strategy ensured that they use some of the money paid as commission to procure properties. In one instance one manager called the finance manager while on a working trip in Johannesburg and requested that P30 000 be deposited into his account as he still had more work to do. The manager didn’t account for the money after the working trip.

Although information is still sketchy regarding the properties in South Africa, highly placed sources within the security apparatus have revealed that some have already been identified. “Some of the properties were bought through their spouses or their children to try and hide the track but the paper trail is leading us to them,” the source revealed.

Between 2014/15 three EXCO members were on ambitious personal projects of getting into farming and bought farms, two in Gantsi while the other one is in the Borolong area, this publication has learnt. DCEC officers are said to have visited the farms and the properties in South Africa for investigations.

Some of the possible conflicts being investigated

Recycled Energy and Fuels

This is the company that was formed by the Vermas who were technical partners with BCL at Pula Steel Casting and Manufacturers, and had a key man’s agreement which prohibited technical partners from getting into another business that will compromise the casting and manufacturing plant.

What raises eyebrows about Recycled Energy and Fuels Company for the investigators is the involvement of the BCL Managing Director Dan Mahupela’s wife as director in the company that had business relations with BCL.

Sarah Mahupela was appointed as one of the directors of the company on the 7th of July 2014 in the company that was to be based in Sefhope dealing with recycling waste resources.

It is suspected the company which never operated was used to launder money from Pula Steel. The suspicion was fuelled by information indicating that for the month of July 2015, Pula Steel had gobbled P38 million.

DCEC confirms

DCEC has confirmed that they have opened investigations regarding corruption allegations against BCL management team and members of the Board of Directors.

In his maiden press briefing DCEC Director General Brigadier Joseph Mathambo confirmed that they reopened 13 cases of corruption which were closed in the past on allegations of insufficient information. Mathambo admitted that some of his officers might have colluded with perpetrators to ensure the investigations collapse.

Tags: BCLDCEC
Previous Post

Masisi assassination threats lies -UDC

Next Post

WUC rots from the head

Related Posts

FMD surges in SA
News

FMD surges in SA

October 6, 2025
Botswana Council of Churches calls for peace
News

Botswana Council of Churches calls for peace

October 6, 2025
Botswana defends slaughtering elephants
News

Botswana defends slaughtering elephants

October 6, 2025
Boko gave voices to some, but…
News

Boko gave voices to some, but…

October 6, 2025
Boko CRACKS
News

Boko CRACKS

October 6, 2025
UDC chaos open Up Kgalagadi South
News

UDC chaos open Up Kgalagadi South

October 2, 2025
Next Post
WUC rots from the head

WUC rots from the head

Please login to join discussion
  • FMD surges in SAOctober 6, 2025
    Border villages,Tlokweng on high alert Cattle crossing into SA to be slaughtered Farmers to conduct FMD routine checks   BAKANG TIRO RelatedPosts FMD surges in SA Banks report P5.98 billion loan defaults Botswana Council of Churches calls for peace… Read more: FMD surges in SA
  • Banks report P5.98 billion loan defaultsOctober 6, 2025
    Government’s growing fiscal pressures escalate risks of default in household and business loan repayments   RelatedPosts FMD surges in SA Banks report P5.98 billion loan defaults Botswana Council of Churches calls for peace STAFF WRITER editors@thepatriot.co.bw Arrears on loans… Read more: Banks report P5.98 billion loan defaults
  • Botswana Council of Churches calls for peaceOctober 6, 2025
    GORATAONE KGOSIMORE editors@thepatriot.co.bw RelatedPosts FMD surges in SA Banks report P5.98 billion loan defaults Botswana Council of Churches calls for peace   Rev. Mmachakga Moruakgomo, representing the Botswana Council of Churches, on August 2025 undertook a diplomatic visit to… Read more: Botswana Council of Churches calls for peace
  • Botswana defends slaughtering elephantsOctober 6, 2025
    Global uproar over killing 21 elephants for Independence festivities KITSO RAMONO editors@patriot.co.bw RelatedPosts FMD surges in SA Banks report P5.98 billion loan defaults Botswana Council of Churches calls for peace   The Ministry of Environment and Tourism has confirmed… Read more: Botswana defends slaughtering elephants
  • BDC Group revenue surges to P802mOctober 6, 2025
    Lines up projects worth P1.2 billion in short-term Hails Delta Automotive milestones in growing regional market To unlock growth after US$12 billion AI Mansour Holdings deal STAFF WRITER editors@thepatriot.co.bw RelatedPosts FMD surges in SA Banks report P5.98 billion loan… Read more: BDC Group revenue surges to P802m
The Patriot On Sunday

© 2024 Copyright The Patriot On Sunday - Inspired by Search Mart.

Navigate Site

  • About Us
  • Advertise
  • Disclaimer
  • Contact Us

Follow Us

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Login
  • Sign Up
  • Cart
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders

© 2024 Copyright The Patriot On Sunday - Inspired by Search Mart.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?