One of the visiting Executive Directors of the International Monetary Fund (IMF) Mr. Aleksei Mozhin says the issue of MKM star lion burial society scheme is an unfortunate story that needs to be resolved soon.

Mr. Mozhin said his delegation together with Lesotho authorities have discussed the issue in depth, saying that at times the government has to take tough decisions to resolve issues of pyramid schemes.

He said it is sad for people who will lose money but the scheme has to be stopped because if it continues people will suffer the loss at the end.

He said Lesotho is not the first country to experience the issue of pyramid schemes as many countries have experienced it and suffered financial abuse due to such schemes.

In an interview, the Minister of Finance Dr Timothy Thahane said as part of the government, he is not in a position to talk about MKM issue as the case concerning it is already in the courts of law.

He noted that results pertaining to the issue will only be known when the court has made its decision.

'It is only the decision of the court that will determine what will happen to the public's money that has been invested in MKM,' he said.

Meanwhile the MKM's case has been postponed to next Tuesday due to the unavailability of the judge presiding over it.

The case follows a court order issued on November 27 authorising the Central Bank of Lesotho to conduct a probe into the affairs of the Star Lion Group to establish, among others, the amount of money obtained unlawfully in contravention of the Financial Institutions Act or the Insurance Act.

Source: LENA 20/02/2008