Dar court orders IPTL’s Harbinder Seth to pay Sh26 billion
What you need to know:
Harbinder Seth and James Rugemarila who were involved in the Tegeta Escrow saga first appeared at the Kisutu Resident Magistrate’s Court on June 19, 2017 facing 12 charges, which included money laundering.
Dar es Salaam. The Kisutu Resident Magistrate's Court has ordered owner of Independent Power Tanzania Limited (IPTL), Harbinder Seth Singh, to pay Sh 26 billion in compensation after he was found guilty of fraudulently obtaining money.
The decision was handed down on Wednesday June 16, by the Chief Resident Magistrate of the Court, Huruma Shaidi when the case of Economic Sabotage No. 27/2017 was summoned to court for agreement.
Harbinder Seth Singh was facing economic crimes case alongside James Rugemarila and the two have been behind bars since 2017.
In 2019, he wrote the Director of Public Prosecutions (DPP) to negotiate his release under the plea bargain arrangement.
Harbinder Seth and James Rugemarila who were involved in the Tegeta Escrow saga first appeared at the Kisutu Resident Magistrate’s Court on June 19, 2017 facing 12 charges, which included money laundering.
The two were accused dealing with criminal networks, forgery, submission of false documents, obtaining money through fraudulent means, occasioning the government a loss of $22,198,544 and Sh309 billion.
Prosecution says Rugemarila and Seth committed the said crimes in Dar es Salaam, South Africa, Kenya and India.
