News

How the MKM Ponzi Scheme unravelled

2001 – The Central Bank of Lesotho discovers that MKM Burial Society was offering insurance products without a licence. With the Central Bank’s help Star Lion Insurance Company was licensed for

MKM’s head-cracking options

MASERU – SOON after taking over MKM’s assets the liquidators started exploring ways to repay the investors who had lost their monies in the Ponzi scheme. They knew they were

‘NSS boss did not follow procedure’

MASERU – National Security Service (NSS) boss Pheello Ralenkoane did not follow procedures when he fired 76 agents earlier this year. That is the gist of the argument Adv Motiea

Bill seeks to allow dual citizenship

MASERU – A Bill to amend Lesotho’s constitution to allow for dual citizenship will soon be debated in Parliament, thepost can reveal. Home Affairs Minister Tsukutlane Au is understood to

The battle against Tuberculosis

MASERU – LIMPHO Taka, a 47-year-old patient with HIV and multidrug-resistant TB, (MDR-TB) lives in Mpokochela, a village in the Drakensberg Mountains of Lesotho. It takes him three hours on his

World Bank defends Tšepong

MASERU – A World Bank report says Queen ’Mamohato Memorial Hospital is not a bottomless pit in which government is pouring millions of maloti and getting little in return. Queen ’Mamohato

Who looted MKM?

MASERU – THERE was a frenzy of excitement as Simon Thebe-ea-Khale entered the Palace Of Justice on July 8, 2008. The crowd outside was a medley of sympathisers and investors in

Long live the King, say Basotho

MASERU – IN an emphatic endorsement of the monarchy a recent survey has revealed that seven in every ten Basotho trust the King more than the government with its various apparatus.

The frugal millionaire who swindled the poor

MASERU – MKM founder, Simon Thebe-ea-Khale, lived a frugal life at a time when millions of maloti were rolling into his pockets as he helped himself to the monies from investors

M200 000 stolen from orphans

MASERU – THE Public Accounts Committee (PAC) has ordered the Master of High Court to pay back about M200 000 allegedly stolen from orphans by some officials in the office. The