Accountants’ body investigates Schlabitz over WMS losses
The Institute of Chartered Accountants of Namibia (ICAN) has confirmed that it is looking into the role accountant Hanjo Schlabitz played in Wealth Management Solutions (WMS), a firm that lost N$250 million in investments. WMS is a financial advisory firm that entered liquidation in April this year, a month after it lost millions in overseas […] The post Accountants’ body investigates Schlabitz over WMS losses appeared first on The Namibian .
The Institute of Chartered Accountants of Namibia (ICAN) has confirmed that it is looking into the role accountant Hanjo Schlabitz played in Wealth Management Solutions (WMS), a firm that lost N$250 million in investments.
WMS is a financial advisory firm that entered liquidation in April this year, a month after it lost millions in overseas investments.
The Namibian reported last week that Schlabitz admitted to using money from local investors to pay out clients who lost their money in those overseas markets. According to the liquidator in charge, losses may run up to N$350 million.
The ICAN secretariat told its members yesterday that it was aware of the media reports.
