The High Court has frozen Sh115 million held in an account of an employee of Platinum Credit Limited believed to be proceeds of crime.
Anti-corruption judge Esther Maina directed that the monies be deposited to an account number in the name of Assets Recovery Agency held at Kenya Commercial Bank.
Maina issued the orders after the agency told the court that Isabel Nyaguthii Wanjohi’s bank account at Standard Chartered is used as a channel for money laundering.
In sworn documents before the court, Gitiri Jennifer, a principal state counsel at the agency, said they conducted investigations and established that Nyaguthii works for Platinum Credit Limited.
Platinum is a microfinance institution.
Suspicious funds were being transferred to her account.
In her defence, Nyaguthii produced a loan agreement dated April 7.
The agreement was between herself and Platcorp Holdings Limited registered in Mauritius.
Nyaguthii was to receive an unsecured loan of Sh115 million.
She was to loan the same amount of money to Premier Credit Limited.
“We subsequently established that Nyaguthii wanted to make a swift transfer of the said funds to South Africa,” read the document.
Gitiri said no reasonable explanation was given as to why she was receiving the said funds and intending to transfer the same to South Africa, the more reason to believe the bank account is used as conduits of money laundering.
The case will be mentioned on September 12.
Edited by Kiilu Damaris
