Court Links Businessman’s Wealth To Money Laundering

Businessman Anthony Kepha Odiero has lost millions and two luxury cars to the State after the High Court declared them as proceeds of crime.

Justice Patrick Otieno declared the $270,888.00 held at National Bank, a Range Rover and Mercedes Benz E250 belonging to the businessman as proceeds and ordered him to forfeit them to the State.

“A declaration that the sum of USD 270,888.47, out of the sums held in account number 02006230139300, at National Bank of Kenya Limited, in the name of Anthony Kepha Odiero is a A declaration that the sum of USD 270,888.47 held in account number ** at National Bank of Kenya belonging to Anthony Kepha Odiero is proceed of crime and the funds are hereby forfeited to the Government,” declared Judge Patrick Otieno.

The court further directed National Bank to transfer the money to an account held at KCB belonging to Asset Recovery Agency (ARA).

The court declared the two motor vehicles- a range Rover and Mercedes Benz as proceeds of crime and he should forfeit them to the government.

The Judge Otieno directed Director General, National Transport and Safety Authority to effect the transfer of the vehicles to ARA.

“The seller and the consideration for the motor vehicle was not proved by Odiero. The court finds that no satisfactory explanation has been offered with regard to the motor vehicles with the consequence that the prima-facie case proved by the proved by the Asset Recovery Agency on a balance of preponderance has not been controverted,” ruled the judge.

The judge said having failed to explain the source of funds used to purchase motor vehicles, it was his finding that they were proceeds of crime.

“From that analysis it is established that most of the deposits were in cash. There was no remittance into the account, save for that from Otieno Odongo and Partners, identified to have come from any of the entities the respondent has demonstrated business connection with. There was however a transfers from Straight Business Agency for which the respondent never explained what undertaking he had with that entity,” he added.

Judge said Odiero failed to explain the source of the cash deposits.

He added that most of his business partners and transactions which Odiero alleged to have been paid in cash are not located in Kenya.

“It has thus intrigued the court if the respondent travelled to European and Asian countries to collect the payments in cash and then travelled back to Kenya just to make the cash deposits!? if that was the case, did he make any declarations for the huge amounts of money in accordance with Section 12 and Second Schedule, Conveyance Of Money Instruments To Or From Kenya!? In the opinion of the court, even if that was the case, it would still be a suspect transaction designed to defeat the reporting requirements and thus a suspicious conduct,” he said.

During the hearing ARA maintained that the businessman failed to satisfactorily explain the source of his millions, which were frozen last year

Investigating officer Mohammed Godana said Odiero was involved in a classic case of money laundering and the acquisition of his assets was a ploy to disguise, conceal and hide the source of the funds.

“The reasonable grounds to believe that the funds held in the Odiero’s bank accounts and motor vehicles are proceeds of crime liable for forfeiture to the Asset Recovery Agency,” Godana told the court while replying to Odiero replying affidavit.

The agency further dismissed an alleged agreement between Odiero and an Italian Onori Glovanna Grazia.

Odiero had opposed the petition arguing that ARA obtained the order freezing his money and cars based on mere speculations.

Odiero revealed that he is the director General East and Central Africa region of Transpacific Africa chamber of commerce and industry and a sole signatory of a premium bank account at National Bank.