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Fraud

DPP finds new money rinsing schemes by tycoon Kariuki

The office of the Director of Public Prosecutions has found fresh details of money laundering activities by nine companies belonging to Tycoon Humphrey Kariuki.

The companies had moved to court to block the state from freezing their accounts at KCB and National Bank of Kenya (NBK).

DPP Noordin Haji told the High Court that the firms,Wow Beverages and Dalbit Petroleum have been recording suspicious transfer of illicit money.

The two companies are shareholders of  tycoon Kariuki’s Africa Spirits Limited (ASL) which manufactures cheap liquor and hard spirits.

The tycoon and his ASL are facing a Sh41 billion tax evasion case.

“We humbly submit that so far investigations have also revealed that ASL, Wow Beverages and associates may have possibly been involved in commission of money laundering offences,” DPP told the court.

DPP Haji now wants the court to reject the plea by ASL to block investigations into the bank accounts belonging to the nine companies.

Plans by Mr. Kariuki to merge companies and twist paper is also at an advanced stage.

The nine firms that are also under investigations by the Directorate of Criminal Investigations include Wow Beverages, Dalbit Petroleum Limited, Rhine Hart Limited, Section Investments Limited, Janus Continental Group Limited, Belgravia Construction Limited, Azalea Holdings Limited, and Kisima Management Company Limited.

Documents before High Court Judge Luka Kimaru shows that ASL shareholders have been listed as Signature Wines (K) Limited, Golden Valley Properties Ltd, Gemtal Ltd, Claudine Mathis, Lion Bridge Limited, Kigumba Limited, Axis Logistics Ltd, Peter Njenga and Geoffrey Kinoti.

“From the CR13/12 records at the Office of Attorney General and Department of Justice, Kigumba Ltd appears as a shareholder of ASL with one ordinary share,” DCI stated.

Records at the companies registry show that Kisima Management Company Ltd, Humphrey Kariuki Ndegwa and Nyawira are the directors of Kigumba Ltd.

DPP, through state prosecutor Catherine Mwaniki and KRA’s advocate George Ochieng wants the high court to order a freeze of the accounts to avoid loss of the monies being pursued by the Kenya Revenue Authority.

 


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