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.
Kenya Insights allows guest blogging, if you want to be published on Kenya’s most authoritative and accurate blog, have an expose, news TIPS, story angles, human interest stories, drop us an email on [email protected] or via Telegram
Understanding Crash Betting: How It Works and What to Know Before You Play
How Firm Linked To Mombasa Tycoon Jaffer Was Allowed To Import Fuel At Bloated Price And Set To Make Billions In Profits From Iranian War Crisis In Kenya
‘A Million Things Could Go Wrong’ – Why Seizing Iran’s Uranium Would Be So Risky For The US
Forged Legacy: How Kaplan and Stratton’s Peter Gachuhi Is Accused of Faking a Top AG’s Will as State Claims Damning Evidence
Lobbyist’s Tweet Ignites Storm Around Equity Boss in Sh9.4B e-Citizen Saga
Newly Confirmed KeNHA Boss Luka Kimeli Dragged In Alleged Multimillion Tender Scam
Mombasa Lawyer On Radar Over Scandalous Garbage Collection Deal
THE BANK THAT BROKE THE TRUCKER: How NCBA’s Asset Financing Empire Is on Trial Before London’s Most Feared Arbitral Tribunal
Raila Aide Drops Bombshell: Babu Owino Was Never Part Of ‘Jeshi Ya Baba’ Exit Plan
The Invisible Hand in Your M-Pesa: How Safaricom Has Been Taking Money Kenyans Say They Never Owed
Tuju Forcefully Removed From His Karen Property With Masked Officers In Unmarked Vehicles In Early Morning Raid
How Little-Known Pesa Print, Linked to State House Tycoons, Won NTSA Tender Worth Sh42 Billion in Traffic Fines
Nowhere To Hide: Govt Begins Tracing Hustler Fund Defaulters Using National IDs To Recover Unpaid Sh12 Billion
Ex-Inchcape Kenya CEO Sanjiv Shah Charged With Bank Fraud
Named: Havi Says Mutava Confessed He Was Collecting The Bribe For Lady Justice Josephine Mongare, So Why Is JSC Still Silence?
The Man With The Golden Pen: How NLC’s Joel Ombati Is Accused Of Masterminding Kenya’s Biggest Infrastructure Land Heist
THE HANDSHAKE THAT BECAME A NOOSE: How Tuju’s Alleged Intimate Access to EADB’s Yeda Apopo Produced a Sh294 Million Deal With No Written Contract, and Why That Trust Destroyed an Empire
‘They Will Eat You Alive’: Retired Teacher Warns Against Bashy African Credit as Sh500,000 Loan Spirals Into Sh1.5 Million Fight
Waweru’s Bank Pockets Sh1.16 Billion from KPC IPO While Ordinary Kenyans Fled the Sale
The New Master of the Nation: How a Tanzanian Billionaire With a President in His Pocket Just Bought Kenya’s Most Powerful Press
-
Business5 days agoTHE HANDSHAKE THAT BECAME A NOOSE: How Tuju’s Alleged Intimate Access to EADB’s Yeda Apopo Produced a Sh294 Million Deal With No Written Contract, and Why That Trust Destroyed an Empire
-
News4 days agoMen Linked to Akasha Drug Dynasty Charged With Death Threats and Assault at Nairobi Nightclub
-
Investigations2 weeks agoTHE RUTO HAND IN TUJU’S FALL: How a President-Linked Petroleum Baron Walked Away With Sh3.5 Billion Karen Land for Sh450 Million
-
News4 days agoCity Lawyer Kimani Wachira Caught Up In Bribery Web Fights Claims
-
Business1 week agoBig Shame: EY and PwC Found Guilty of Fraud and Corruption in Kenya as World Bank Bans Lay Bare Scandal Inside the Global Audit Elite
-
News2 weeks agoDARFUR SULTAN CAUGHT ON TAPE: War-Linked Figure Runs Red Lights in Nairobi With Impunity
-
Investigations1 week agoIs Equity Bank Becoming A Fraudsters’ Den?
-
Business2 weeks agoHow EADB Threw Tuju Under The Bus