Money laundering is the process of making large amounts of money generated by a criminal activity appear to have come from a legitimate source.
In June, the Central Bank of Kenya (CBK) announced new bank notes in the process demonetized Kshs. 1000 by October, 2019.
There has been a frenzy in the political and corrupt businessmen circles; most of whom hoard huge amounts of cash obviously in Kshs. 1000 denominations. They are running helter and skelter trying to convert the money into new notes so as to beat the October deadline.
The only problem for these corrupt wankers is that time is not on their side and also CBK has instructed banks to not accept cash in excess of Kshs. 5 million without notifying it.
In a press briefing on yesterday, Mr. Njoroge, the CBK Governor reiterated that those who wish to exchange more than five million old one thousand notes should first seek permission from the CBK who will approve the transaction.
Corrupt Samburu Governor
Early this year, Ethics and Anti-Corruption Commission (EACC) arrested Samburu Governor Moses Kasaine for looting over Kshs, 2 billion county funds expenditure that is believed to have been misappropriated.
EACC went on to release a press statement stating the county leaders founded companies that they used to award themselves tenders worth over Kes. 700 million.
‘In other cases, contractors were irregularly awarded contracts worth over Kes. 1 billion, for works that were partly or never done, after which they paid kickbacks to top County Officers.’ The statement read in part.
The county officials invested the embezzled funds in real estate.
EACC also sought to freeze and seize their assets, in order to ‘recover public funds lost at the County’.
The Samburu Governor was taken to court and was fined a huge amount of money (Kshs. 100 million) for his release, but the court later became lenient and reduced the fee to Kshs, 10 million.
On March 6, the EACC obtained orders barring Governor Lenolkulal from transferring four prime properties in Nairobi.
Here is some information we got about Samburu Governor who trying to launder his loot.
Hi Cyprian Nyakundi,
Samburu Governor Moses Kasaine Lenolkulal is on the run but this world is too small!
The high priest of Corruption recently bought 200 bulls at Chebunyo Livestock Market – Bomet; trying to use Billions of hard cash stolen from poor Samburu’s who most of them are without water & basic health facilities stashed in his homes before the October deadline by CBK.
It’s suspected that he has hired unknown ranch in Laikipia for fattening of the aforementioned bulls.
You can run but you cannot hide.
Over to you EACC & DCI.
