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Corporate Fraud

Samsutech’s tycoon Piyush Patel goes into hiding after bribing no-nonsense KRA senior managers

Via Weekly Citizen

Samsutech Corporation Limited

Samsutech Corporation Limited whose director is Asian tycoon Piyush Patel is engaged in tax evasion and money laundering has gone under upon discovering he had bribed senior managers at KRA to hide his files.

He is rarely reached on his mobile phone and seen in office.

The firm is the sole agent of Samsung, a South Korean based manufacturer of electronics.

To perfect his act in tax evasion, Piyush Patel popularly known as double P in the Asian community has colluded with senior Kenya Revenue Authority (KRA) officers to claim he is a distributor but not a sole agent.

As such the firm has been grouped under Medium tax collection when it literally falls under large tax category.

As a result, the firm has evaded taxes running over sh1 billion.

We have established, KRA enforcement recommended Patel to be charged with evading taxes but he boats of having compromised senior KRA managers at Nairobi Mayfair Hotel where money running into millions exchanged hands.

Surprisingly even after the criminal file had been approved to land Patel in court, the case is still pending.

To avoid arrest, Patel has been hiding in his private Karen residence avoiding his usual Spring Valley house.

He has also close his shop along Koinange Street Nairobi city Centre on Rattansi House preferring to use it as a drop and collection centre.

Sources say, Patel was instrumental in the downfall of Nakumatt Supermarkets where he supplied electronics and fridges.

His account payments were used for money laundering running into billions by fellow Asians.

Among the products Samsutech imports and distributes are extra modern TV sets, Fridges, cookers, microwaves and other Samsung goods.

The firm currently supplies Naivas, Tuskys, Quickmatt and other outlets in East and Central Africa.

In his 50’s Patel is said to be having a love affair with An African female staff he normally exploits sexually at Kilimani area where they hide for good times.

The firm has headquarters in Parklands, Nairobi.

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