WINDHOEK – A well-known Forex Trader and self-acclaimed financial expert Michael Amushelelo has reportedly been arrested in Namibia facing charges of money laundering and fraud.
According to media reports in the South West African country, Amushelelo was taken into police custody over a number of charges.
The Namibian website reports that the 28-year-old aspiring politician and founder of Power had plans to contest the upcoming general elections alongside unionist, Evaristus Kaaronda.
ARRESTED … Self-proclaimed financial expert Michael Amushelelo has been arrested today after he was taken in for questioning by police yesterday. Deputy commissioner Edwin Kanguatjivi confirmed that he was arrested with another suspect for alleged fraud and money laundering. pic.twitter.com/AFbXJTvXsJ
— The Namibian (@TheNamibian) October 11, 2019
Amushelelo is a social media celebrity who often flaunts his wealth and apparent good deeds on that platform.
Police spokesperson and deputy commissioner Edwin Kanguatyi confirmed that Amushelelo was arrested behind bars.
“Yes, that is correct. He was taken in today, but I cannot say that he was arrested. He was taken in for questioning in relation to fraud and money laundering, but if you call me tomorrow, I will probably have different information,” Kanguatjivi said to the Namibian.
In addition, it is reported that this is not the first time he has been in trouble with law enforcement agencies.
Back in 2014, the 28-year-old was held behind bars on culpable homicide charges and sentenced to two years in jail whilst working as a Windhoek Larger business ambassador.
Meanwhile, it is reported that the investigators have since confiscated Amushelelo’s luxury vehicles and other assets as part of the ongoing probe.
According to Namibian news reports, Amushelelo will spend the rest of the weekend behind bars and is set to appear before the Windhoek Magistrates Courts on Monday.