Businessman Ordered to Hand Over Ksh35 Million to Assets Recovery Agency
The High Court of Kenya has granted permission to the Assets Recovery Agency (ARA) to seize Ksh35 million (equivalent to $270,888.47 at the current exchange rate) from a Kenyan businessman.
The court ruled that the funds were proceeds of crime and should be forfeited to the state.
According to the Kenya Gazette issue dated March 14, the court’s decision also includes the confiscation of two high-end vehicles linked to the businessman. The official gazette outlined the forfeiture schedule, stating:
“The High Court has issued Forfeiture Orders in High Court Civil Suit (Anti-Corruption and Economic Crimes Division) ACEC SUIT NO. E33 of 2023 as specified in the Schedule.”
This ruling followed a formal application by the ARA, which sought to recover the money and assets under suspicions that they were acquired unlawfully.
The agency cited Section 92(5) of the Proceeds of Crime and Anti-Money Laundering Act, 2009, in its case against the businessman. Initially, the ARA had targeted a total of Ksh47 million ($368,185.77) for recovery, but the court granted forfeiture of Ksh35 million.
Luxury Vehicles Also Seized
In addition to the money, the court approved the seizure of two luxury vehicles—a Range Rover and a Mercedes-Benz E250—belonging to the businessman. These vehicles will now be handed over to the state.
The court further directed that the local bank holding the Ksh35 million must facilitate its transfer to a dollar account managed by the ARA. The order was issued by High Court Registrar Clara Otieno-Omondi, ensuring that the funds are officially repossessed by the agency.
To finalize the transfer of the vehicles, the Director-General of the National Transport and Safety Authority (NTSA) was instructed to oversee the process. The court also ordered that new registration certificates be issued to reflect the government as the new owner of the cars.
Additionally, the court directed that all legal costs related to the case be covered by the businessman, further increasing his financial burden.
Private Jet Companies Also Affected
In the same Kenya Gazette notice, two private jet-hailing companies were also ordered to surrender a total of Ksh247 million ($1.9 million).
The funds, held across four different bank accounts in two financial institutions, were determined to be proceeds of crime and will be seized by the government.
This latest ruling is part of the Kenyan government’s ongoing efforts to crack down on money laundering and economic crimes, ensuring that illicit wealth is recovered and returned to the state.
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