AGENCY WANTS ORDERS FREEZING NYS SUSPECTS BANK ACCOUNTS EXTENDED.

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National Youth Service (NYS) before Nairobi Anti-Corruption court in Nairobi.
BY NT CORRESPONDENT.Assets Recovery Agency is seeking to have orders freezing 11 bank accounts related to individuals and companies held at Equity Bank for NYS suspects extended to enable the team to complete investigations.

The agency says that they were first issued with the orders in the month of May adding that the orders were then extended.

The Asset Recovery want to continue investigating the following accounts, Lilian Wanna Muthoni /Sahara Consultants, James Thuita Nderitu, Lidi Holdings Limited, Lidi Estate Limited, Mimi Holdings Limited, Ameri Traders Limited, Interscope Tech and Services, Plagstone Merchants Company Limited and Ellywn Supplies.

Court documents further state that the orders have so elapsed and there is apprehension that the money in the bank accounts may be withdrawn and spent.

The agency Investigating officer Fredrick Musyoki further claims that so far preliminary investigations have revealed that between the year January 2015 and May 2018 more that a billion Kenyan shillings was laundered from NYS and channeled into several accounts amongst which are held at Equity Bank.

The Agency further wants the court to direct that the orders of the court be served to the bank manager Equity Bank Limited Head Office Nairobi compelling the said manager to avail to the applicants certified copies of account opening documents, cheques and RTGS instructions statements of account for the period between 1st January 2015 to date.

“That the preliminary investigations have established that the account under investigation has multiple transactions involving millions of shillings in various banks and entities requiring further investigations to establish the money trail and trace proceeds of crime,” reads court papers.

According to following arrest and arraignment of the top management of National Youth Service, the institution had administrative challenges and therefore retrieving the documents from investigations had difficulties and hence the delay in the investigations of this matter.

Musyoki further says that the NYS case is a case of immense public interest involving complex scheme of money laundering and proceeds of crime that has taken the investigators a lot of time to unravel them.

The matter to be mentioned tomorrow for further directions before vacation judge Lesit.

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