A Nigerian firm that was at the centre of a multi-billion money laundering probe last year used fake documents to wire millions of dollars from Kenyan banks to American bank Citibank. RemX Limited, which was investigated by the Assets Recovery Agency (ARA) on fears of card fraud and money laundering and later cleared, duped the […]
UBA and Equity Banks are currently embroiled in a legal tussle with Assets Recovery Agency (ARA) over Sh5.6B frozen in the two banks suspected to being proceeds of crime and a dark world money laundering scheme. According to reports, the money is alleged to be linked to Deputy President William Ruto and in play are […]
United Bank of Africa(UBA) Kenya is in trouble following accusations made by the Assets Recovery Agency that the bank hold Sh5B that they deem was acquired illegally through unethical banking practices, money laundering. In a Miscellaneous Criminal Application No E015/2022 filed on March 10, the agency had sought from the Milimani Anti-Corruption Court to investigate […]
