A Nairobi businessman has been ordered to surrender over Ksh82 million to the government and forfeit some of his property including four cars and seven land properties following a High Court ruling on October 25.
According to a Gazette notice dated November 22, the orders were issued at the Milimani Law Courts following an application by the Ethics and Anti-Corruption Commission (EACC) over money laundering suspicions.
“The respondents are jointly and severally hereby ordered to pay to the Government of Kenya the sum of Ksh 82,083,066 which was deposited into the 2nd respondent's account during the period of Interest,” part of the notice read.
In addition to this payment, he has also been ordered to forfeit seven land properties believed to be unexplained assets acquired during the period of interest. They include properties in Dundori, Dagoretti, Kiambu and Limuru.
To add to his misfortune, two of his properties seized by the government will be valued at a lesser amount than their current market value according to the notice.
“(The two) are hereby forfeited less the value of the current market value of the land upon which the developments stand,” the notice read.
Four movable assets that constitute motor vehicles have also been seized and they include; a Tata Tipper, a Toyota Station wagon, a Nissan Station wagon, and an Isuzu Truck.
In place of the property seizure, the defendant could pay in cash according to the notice that states, “In the alternative to orders above the respondents shall pay to the Government of Kenya an amount equal to the market value of the moveable and immovable properties as stated in the Commission's valuation report.”
The High Court further ordered him to pay the EACC cost and the local bank he used in the fraud scheme.
The court had been tasked with determining whether the respondent owned the corporate entity used to make suspicious transactions brought before the court and whether it was a money laundering scheme.
An additional transaction of Ksh73,947,807.60 was also under scrutiny as being proceeds of the crime but that was vacated in the ruling, saving the respondent from paying Ksh156,030,873.60.
“Whether the Respondents jointly and severally should be ordered to pay to the Government of Kenya the cumulative sum of Kshs. 156,030,873.60 being cash deposits and bank transfers enumerated above and interest thereon at Court rates from the date of filing this suit until payment in full,” the application made on September 26 read.
