State Freezes Embattled Tycoon Humphrey Kariuki’s Assets

The Director of Public Prosecutions was last Friday granted permission by a Nairobi court to freeze all of billionaire Humphrey Kariuki’s property. Milimani Resident Magistrate Caroline Nzibe granted the freezing injunction against Kariuki on August 9.

Kariuki, the owner of an alcoholic beverage company, African Spirits Limited, is accused of evading taxes to the tune of Ksh41 billion.

Some of the tycoon’s assets that have been frozen include ships, aeroplane’s among other immovable property.

The embattled billionaire on Thursday, August 15, moved to court to have an the court order freezing all his assets lifted, saying “his beverages business will suffer”.

Through his lawyer, Benjamin Musyoki, Kariuki says the freezing order may result in the “shut-down, crippling and even thwarting of his other business, Wow Beverages Limited”. “In view of the grave excessive, punitive and unjustified harm loss, damage and prejudice, Wow suffers loss of business,”

The freezing order will remain active until Kariuki’s case is heard and determined, the court said on August 9.

Billionaire businessman Humphrey Kariuki, has seen a warrant of arrest issued against him over a Sh41 billion tax evasion scam.

Kariuki is said to be out of the country, with reports indicating he was last seen at an airport in South Africa.