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Theo Klein, managing director of TELECOM Namibia, was suspended following an investigation by the board of directors over a fake alleged factual market of N $ 12 million, a telecom statement said Friday.
Telecom interim president Irene Simeon-Kurtz confirmed the suspension in a letter dated 23 November 2018 to the government.
She added that the decision to suspend Klein followed an internal investigation opened by the board of directors last month.
"At the extraordinary board meeting of November 23, 2018, the board of directors decided to suspend Mr. Theo Klein," the letter said.
The letter further stated that disciplinary charges would be served on Klein within 48 hours, in accordance with company policy.
Klein's suspension comes just weeks after the suspension of three senior executives to pave the way for an investigation into how the parastatal paid part of a $ 12 million Namibian counterfeit deal .
The three suspended executives were the chief financial officer, Robert Offner, the internal auditor, Ben van der Merwe, and the head of legal services, Jinah Buys.
Klein was appointed acting CEO of Telecom in 2014 and was finally appointed on a permanent basis.
Neither Klein nor Simeon-Kurtz could be commented on Saturday.
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