Investigations
Standard Chartered Bank Linked To Money Laundering On The Arror And Kamwarer Dams Saga
Standard Chartered Bank limited are the latest company to be linked with Arror and Kimwarer Dam scandal. The bank has been linked with holding over sh734.5 million suspected to be related to the scandal. The money has since been frozen by a Nairobi court.
The money which belongs to Stanlib Wealth Amanah Property Limited is under investigations by the DCI for money laundering. The owners of the company have not been arrested or charged in court.
According to court documents the account holders made application to the bank to transfer the sh734.5 Million to Azepco general trading company limited in Dubai a company that is suspected to be linked to the Dam scandalon 24th July.
It’s suspected that Azepco General trading company also received 5.8 Million Euros from an Italian firm CMC DI Ravenna suspected to be deeply involved in the Dam scam.
The bank becomes the latest to be linked with the multibillion-shilling Kimwarer and Arror dams’ scandalwhich the Treasury CS Henry Rotich and his PS Kamau Thugge and other 24 government officials have also been charged with over 24 charges among them abuse of office and conspiracy to defraud.
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