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Corporate Fraud

REVEALED: Tranche Of Documents Expose Ksh. 100 Billion Tax Evasion By Bluebird Aviation.

Media reports only tell you an overview of things.

Today, we bring to you documents that shows Bluebird Aviation, a company owned by Yussuf Adan.

Yusuf Adan is the whistle blower against his co-founder and directors namely, Hussein Farah, Unshur Mohamed and Mohamed Abdikadir.

Mr. Adan wants Directorate of Criminal Investigations (DCI) George Kinoti, to investigate the three for fraudulent accounting, tax evasion, fraud and money laundering.

He argues that more $1 billion (about Sh100 billion) has been siphoned from the airline in its 27 years of operation.

He discovered the financial impropriety sometime in 2015 and has been embroiled in bitter court battle with his directors, over control of Bluebird Aviation. [I think the judges handling this case made a lot of money]

Bluebird is one of Kenya’s largest chartered flight operators with a fleet of more than 21 airplanes.

“I am making a criminal complaint in respect of the many abuses and many wrongs committed by the other co-directors of Bluebird Aviation,” said Mr Yussuf in a complaint filed at the DCI registry on March 8.

The Looting

Documents filed at the Milimani High Court claim that Mr Farah, Mr Mohamed and Mr Abdikadir have been running two separate books of accounts — the official one, which constitutes only five per cent of the firm’s true income, and a clandestine one which is used to hide profits made from both the government and Mr. Yussuf Adan

The three directors have been issued with ALL AREAS AIPROT PASSES by the Kenya Airports Authority, enabling them to move money often in huge cash amounts undetected.

Mohamed Abdikadir and the two, has a different company called Amazon International FZC in whose bank accounts he uses to siphon money from Bluebird aviation.

The company is registered in the United Arab Emirates (UAE), with three bank accounts used to hide the loot.

Account Number 011004662024 Ajman Bank, UAE;

Account Number 021-490 800-100 HSBC, Dubai Branch, UAE;

Account Number 610 897 031 000 Invest Bank, Ajman Branch, UAE

Ninety Five Percent (95%) of the revenue generated in this account by Bluebird Aviation is recorded in this parallel secret accounts.

These rogue directors would even use the stolen money to buy aircrafts and then sell the aircraft to Bluebird aviation at massive profits. This secret profit is then shared amongst themselves.

It is estimated that the rogue directors made over US Dollars 2 Million (Kshs. 202 Million).

There was a lot of looting of this company by the directors. Please read for yourselves in the document attached below.

The three directors allegedly tried to buy out Mr Yussuf’s stake in the company for $30 million (Sh3 billion) when he confronted them over the scheme.


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