The sports category has moved to a new website.
ADVERTISEMENT

Tycoon's accounts frozen with billions inside

Accounts with billions freezed

Billionaire's accounts frozen

11 accounts associated with billionaire Humphrey Kariuki over alleged tax evasion amounting to Sh3 billion have been freezed.

This happened after the Kenya Revenue Authority (KRA) obtained orders to freeze the accounts in Equity, National Bank of Kenya and Kenya Commercial Bank (KCB).

The court heard that initial investigations indicated that the companies - Vow Beverages Limited, Wines of the World Ltd and African Spirits Ltd - had evaded tax that amounted to Ksh3 billion.

ADVERTISEMENT

Fraud

According to KRA, the companies had fraudulently denied the agency collection of colossal amounts of tax.

Justice Onyiego certified the case as urgent and directed Mr Kirugi to serve the documents to the companies ahead of the hearing on March 8.

Mr Kariuki’s African Spirits Limited (ASL) is one of the largest alcohol manufacturing plants in East Africa and, ironically, has been one of the most vocal in the fight against counterfeits and illicit liquor.

ASL produces Glen Rock, Legend Black, Blue Moon, and Legend brandy. 

ADVERTISEMENT

Illicit ethanol

For years now, the company’s PR department and senior managers have been in the news asking for the tightening of rules on ethanol trading and protection of the industry from counterfeiters and tax dodgers.

When KRA officials followed a lorry that was carrying illicit ethanol, hidden under sacks of maize they stumbled upon what officers say is one of the biggest finds.

The authority noted that the multi-billion racket could amount to Ksh6 billion of lost revenue.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

Family reveals what killed Jowie Irungu's father as legal team gives way forward

Family reveals what killed Jowie Irungu's father as legal team gives way forward

Rachel Ruto reveals how she teamed up with Ruto to solve crisis through divine intervention

Rachel Ruto reveals how she teamed up with Ruto to solve crisis through divine intervention

Charlene Ruto, Waiguru & Lynn Ngugi dazzle at the East Africa Women of Excellence Awards

Charlene Ruto, Waiguru & Lynn Ngugi dazzle at the East Africa Women of Excellence Awards

Ruto’s friends, PAs & bloggers want to order me around - furious Gachagua laments

Ruto’s friends, PAs & bloggers want to order me around - furious Gachagua laments

My problem with Ruto’s men: DP Gachagua exposes alleged plot to incite leaders against him

My problem with Ruto’s men: DP Gachagua exposes alleged plot to incite leaders against him

Makadara Magistrate Monica Kivuti dies in hospital after gun attack

Makadara Magistrate Monica Kivuti dies in hospital after gun attack

DP Gachagua celebrates success of project that saw him receive threats

DP Gachagua celebrates success of project that saw him receive threats

Suspension of foreign trips & other directives given to Azimio MPs as Finance Bill 2024 battle shapes up

Suspension of foreign trips & other directives given to Azimio MPs as Finance Bill 2024 battle shapes up

Gachagua explains sudden shift in political stand that has rattled Ruto's men

Gachagua explains sudden shift in political stand that has rattled Ruto's men

ADVERTISEMENT