National Treasury obtains Sh3Billion from forfeited assets, fines, and penalties

In just a year, corruption and criminal cases have helped the National Treasury record Sh3 billion in revenue from forfeited assets, fines, and penalties.

The 2021/2022 financial year saw Treasury surpass their Sh2.2 billion target following the Governments decision to widen crackdown on corruption and law enforcement.

During that period numerous companies and business owners have been taken to court accused of fraud and money laundering.

Kenya's National Treasury building is pictured in Nairobi, Kenya, on June 14, 2018. (Photo by YASUYOSHI CHIBA/AFP via Getty Images) Pulse Live Kenya

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Some examples of proceeds of crime

In September 30, 2021, Businessman Ngamau Mukuria was slapped with a fine of Sh720 million after being found guilty of defrauding the Youth Enterprise Development Fund (YEDF) Sh180 million.

The case had been in court for more than three years in which millions of property belonging to the businessman has been seized by the state.

Less than a month ago, Deputy President elect Rigathi Gachagua was forced to forfeit Sh202 million to the state after being found guilty of looting “taxpayers’ money in fraudulent tender deals”.

In a lengthy statement, the DCI recounted that the Mathira MP enlisted the services of several youth and women groups who he pushed to register 20 companies and open accounts with a local financial institution.

Deputy President Elect Rigathi Gachagua Deputy President Elect Rigathi Gachagua Pulse Live Kenya

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The well-connected MP would then use a combination of threats, blackmail and connections to secure tenders for the companies and obtain over Sh1.7 Billion from close to 10 government ministries, state departments, parastatals and county governments paid through Rafiki Micro-finance.

In July 22, The Ethics and Anti-corruption commission (EACC) recovered grabbed land in Mombasa Road valued at approximately Sh430 million.

According to the anti-graft body, the land was illegally transferred by former Lands Commissioner Sammy Mwaita in 2001 and was registered under WAK Limited and Redwood Properties Limited.

The Environments and Land Court ruled that the land transfer was illegal and fraudulent and the owners of the property did not warrant any ownership to the land which had been reserved for an interchange for Mombasa Road & Eastern Bypass at Cabanas.