BY SAM ALFAN.
The High Court has frozen over Sh13 million from two companies and a supplier to National Youth Services who is facing charges in court, funds suspected to be proceeds of crime.
Anti-Corruption division Judge James Wakiaga ordered preservation of the said monies pending hearing and determination of the application filed by Asset Recovery Agency.
“Preservation orders be and hereby issued prohibiting Active Electrons Africa Limited, First Suppliers, Ameritrade limited their agents or representatives from dealing, transferring, withdrawing or in any other manner in respect of funds held in their names at Standard chartered Bank and equity bank,” ordered Judge Wakiaga.
According to the court order, Sh3, 648, 158.40 held in the name of Active Electrons Africa Limited held at Standard Chartered Bank, Sh718, 024.35 held in the name of First Supplies held at Standard Chartered Bank and Sh2,962,876.25 held in the name of Ameritrade Limited held at Equity Bank Limited.
The court further ordered that the funds be transferred ARA’s account held at Kenya Commercial Bank Limited, KICC Branch.
The agency said it conducted investigations after the arrest and arraignment of suspects linked to the scandal at NYS, in May 29, 2018.
Scores of suspects including government officials and traders were charged with various charges including misuse of office, conspiracy to commit felony.
The agency told the Anti-Corruption Court that the investigation are premised on the Directorate of Criminal Investigations into theft of public funds amounting to Sh467,896,993 million from NYS.
The investigations allegedly revealed massive fraud and embezzlement of public funds perpetuated by public officials and private and private persons who are facing corruption charges before anti-corruption Court.
According to the agency, financial investigations by the DCI revealed massive schemes of embezzlement public funds, fraud and money laundering rendering the funds proceeds of crime liable for forfeiture.
Justice Wakiaga directed the monies to remain frozen, pending the determination of the petition by ARA.
