The court on Thursday ordered the freezing of an account belonging to a company believed to have pocketed Sh700 million from the Kimwarer and Arror dams scandal.
Milimani senior magistrate Caroline Nzibe allowed an application by DCI seeking to have the account frozen for investigations.
Detective Isaac Onguto said Sh734 million is suspected to have ended in the account through money laundering.
The funds are held in the account at Standard Chartered Bank under the names of Stanlib Wealth Amanah Properties Limited that has been sued in the application.
Onguto said the company made an application on July 24 to transfer the cash to a Dubai firm – Azepco General Trading Company LLC which investigators say is linked to the Kimwarer and Arror dams’ scandal
Onguto said Azepco received 5.8 million Euros from Italian firm CMC Di Ravena suspected to have been deeply involved in the Arror and Kimwarer multi-purpose dams projects.
“It is suspected that the funds held in account number 0105016760312 under the names of Stanlib Wealth Amanah Properties Ltd, domiciled at Standard Chartered Sarit Centre are proceeds of crime and are in process of being laundered,” Onguto said.
The DCI says they are investigating the firms for money laundering.
The court allowed DCI to obtain bank statements of the account regarding deposits and withdrawals - inward and outward remittances and record statements from bank manager and other competent bank employees.
An international warrant of arrest has already been issued for the directors of the Italian firm after they failed to honour a summon issued by the court on July 26.
edited by peter obuya
