Prophet Bushiri’s K73 Billion allegedly ‘Ponzi Scheme’ case starts in SA today
Prophet Shepherd Bushiri who remains a polarizing figure in Malawi, is facing fresh scrutiny as his alleged accomplices prepare to face a South African court today in connection with a staggering Ponzi scheme worth K73 billion (R73 million).
While Bushiri continues to fight extradition in a Malawian court, the trial of his associates is set to begin in South Africa today.
Bushiri, a Malawian national and leader of the Enlightened Christian Gathering (ECG), was arrested in South Africa four years ago on charges of fraud and money laundering. After being released on bail, Bushiri fled back to Malawi, defying court orders to remain in South Africa. His escape has since become a major diplomatic issue, with South Africa demanding his extradition to face the charges.
The fresh trial, involving more than 350 counts of fraud and suspicious transactions, is has started today and will run for a month. Among Bushiri’s alleged co-conspirators are foreign nationals Willah Mudolo and his wife Zethu, Landiwe Sindani, Nomalarvasagie Reddy, Sateesh Issery, Stephanie Olivier, and a company called Rising Estates.
Money Trail
According to court documents, the state will argue that Bushiri’s financial dealings extended far beyond South Africa, with links to the United States and millions allegedly moved through various questionable channels. In just one day in April 2017, Bushiri and his associates reportedly transferred over K12 billion (R12 million) through 21 transactions.
Some of the transactions under investigation include cash deposits and transfers totaling K7.3 billion (R73 million), including:
- K20 million (R200,000) deposited into the account of Shepherd Bushiri Investments.
- K215 million (R215,000) sent to GTT Wealth.
- K25 million (R25,000) paid to Bushiri’s gym.
- K8 million (R8,000) paid to the couple’s daughter, Raphaella.
- A K1 billion (R1 million) deposit for Bushiri’s Rolls-Royce.
The Escape and Extradition Battle
The Bushiris, along with two others, were arrested in 2020 on charges related to fraud, money laundering, and theft, with a total value exceeding K1 billion (R102 million). Despite warnings from experts that the couple was a flight risk, they were granted bail of K20 million (R200,000) each, with strict orders not to leave South Africa. Days later, the Bushiris fled to Malawi, citing threats to their lives.
South Africa’s former Home Affairs Minister Aaron Motsoaledi told Parliament that the couple left the country illegally, without using their multiple passports, further complicating their extradition case.
In recent developments, a South African delegation visited Malawi to present evidence in the ongoing extradition hearing. However, the process has been fraught with legal and diplomatic hurdles. South Africa’s Justice Minister, Thembi Simelane, acknowledged in August that the extradition efforts have faced several challenges, though she reaffirmed the government’s commitment to ensuring accountability.
Meanwhile, Bushiri continues to preach in Malawi, where his legal team is battling against the South African government’s efforts to have him sent back to face justice.
As the trial of his alleged accomplices unfolds in South Africa, all eyes remain on the Lilongwe court where Bushiri’s extradition fate will ultimately be decided on November 10th.
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