In March this year, CNYAKUNDI.COM confirmed that the Central Bank Of Kenya, DEA and Kenyan security agencies were probing that African Banking corporation over money laundering, fraud and links to narcotics.
ABC Bank Could Be Blacklisted Over Links To Dirty Money, Money Laundering And Terrorism Financing.
In March this year, the United States government put Kenya on a list of global hotspots for money laundering, citing insufficient controls on the circulation of dirty cash and the lack of laws against terrorism financing.
In a report by United States Department of State Bureau for International Narcotics and Law Enforcement Affairs, “criminal activities include transnational organised crime, cybercrime, corruption, smuggling, trade invoice manipulation, illicit trade in drugs and counterfeit goods, trade in illegal timber and charcoal, and wildlife trafficking.”
It described Kenya’s vibrant financial system as a magnet for money laundering.
“Banks, wire services, and mobile payment and banking systems are increasingly available in Kenya. Nevertheless, unregulated networks of hawaladars and other unlicensed remittance systems facilitate cash-based, unreported transfers that the government cannot track,” it said.
ABC bank has been mentioned severally as one of the platforms through which drug dealers, pirates, and other criminals clean their cash.
In our march exposee, CNYAKUNDI.COM also independently confirmed that the Bank has more than 1,000 Acres of land acquired from drug-linked “tycoon” Ali Badruddin Punjani.
A confidential letter from the Scotland Yard to Central Bank and copied to the Banking Fraud Unit in January 2015 and seen by the editor of this website says authorities in Kenya need to investigate the “strong appetite” ABC bank has for the housing sector, particularly in Nairobi and the Kenyan coast, Mombasa. It further says the bank has acquired a huge swath of land in Lamu, near where the new proposed port is to be built.
Ali Badruddin Punjani popularly known as Ali Punjani has gone into hiding for many months as auctioneers target his properties. Last year, he is said to have tried to commit suicide by jumping from a high storey building in Mombasa town but the move was thwarted.
The “Tycoon” known to fly in and out of Kenya incognito. Apart from dwindling finances, that has made ABC acquire his huge tracts of land to offset the loans, Punjani’s other concern is that the CIA is likely to come for him after being linked to drug cartels with international connections.
Those in the know about his operation style say that he hides during the day and is rarely seen in public only for him to emerge at night mostly from 11 pm wearing a kanzu and dark glasses
Punjani together with members of the Akasha family now facing jail sentence in America were linked to the international drug business.
Most of this dirty money was washed through the ABC bank with help of the money laundering bank.
Police raided the home of Mombasa tycoon Ali Punjani on Monday, a day after Interior CS Fred Matian’gi said no individual, no matter how connected, will be spared in the war on drugs.
Nepotism And Outright Breach Of Ethics By ABC Bank Group Managing Director Shamaz Savani
Plains clothes and GSU officers camped at the home in Nyali area as K-9 Unit police officers used sniffer dogs to search the house on the shores of the Indian Ocean.
Punjani was not the house during the raid.
Police have directed Punjani and his associates to surrender or face arrest.
A source the editor of this site spoke to revealed that ABC bank directors are also under their Radar since all the drug money is laundered through the money laundering bank
