News
Sh35M Frozen In EIS Afrika Group Accounts Over Money Laundering
Milimani High Court Judge has given Assets recovery agency Green light to freeze Ksh 35 million held in bank accounts belonging to a company run by foreigners in Kenya following allegations of money laundering.
Justice Nixon Sifuna said EIS Afrika Group Limited and its directors shall not transact, withdraw or in any manner deal with funds held at I&M Bank account.
The Judge said the said preservation orders shall be in force for ninety days from today.
The orders were issued following an application by the Assets Recovery Agency that claimed the directors of the company were using the company as an avenue for money laundering.
The agency told the court that on March 1 they received information into suspected money laundering schemes and proceeds of crime perpetrated by the firm.
An analysis of the bank statement established that the firm received suspicious US dollars 350,000 dollars from foreign jurisdiction in a scheme of money laundering’
The company allegedly withdrew some of the cash before the Agency could obtain the freezing
According to the Agency, there are reasonable grounds and evidence demonstrating that the funds held by the Company in the specified bank account are direct or indirect benefits, or proceeds of crime obtained from money laundering.
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