With the recent successes in recovering proceeds of corruption the governemnt has planned to invest the money for better returns.
Treasury CS Ukur Yattan has proposed the creation of the Criminal Assets Recovery Fund which will handle all the money obtained as proceeds of corruption.
The fund shall be managed by an administrator and a commitee comprising the Attorney General, Treasury PS, NIS director general, CBK governor, Financial Reporting Centre director general, EACC CEO, KRA commissioner general, Director of Public Prosecutions, and the DCI.
The AG shall serve as the chairperson of the committee.
Other than using the money for operationg expenses and upgrading the criminal justice system, the fund will have the liberty of investing the money.
"Where in the opinion of the Committee it is appropriate to do so, the committee may direct such sums from the Fund as it determines, be invested in government securities," reads Yattani's proposal.
The funds shall be set up using an initial Ksh20 million capital appropriated by Parliament in the years 2020/21.
The Office of the Director of Public Prosecutions is targeting to recover Ksh72 billion from state officials linked to graft.
EACC has recovered approximately Ksh7.9 billion in 6 years.
On August 26, the court ruled that the INFAMOUS Ngirita family, linked to the NYS 2 scandal should forfetit Ksh95 million to the government.
A landmark ruling made earlier in 2020 made it easier for anti-graft agencies to recover proceeds of corruption.
The ruling shifted the burden of proof from the prosecution to the defendants.
While in criminal cases the prosecution bears the burden of proving wrongdoing, graft suspects will bear the burden of proving that they obtained their assets legally, failure to which their property will be seized.