Troubled Billionaire Kariuki’s Planes, Ships Grounded As He Fights To Quash Freeze Order

Thika billionaire Humphrey Kariuki has moved to court to challenge a recent court order that led to the freezing of all his assets over tax evasion.

According to reports, some of the billionaire’s assets that have been grounded include his planes, ships and other immovable property.

The Directorate of Public Prosecution (DPP) while issuing arrest orders on Friday, requested  Kariuki’s assets be frozen.

Milimani Resident Magistrate Caroline Nzibe granted a freezing injunction against Kariuki on the same day.

The billionaire has now filed an application to have all his assets unfrozen.

In an argument in court on Thursday, Benjamin Musyoki, Kariuki’s lawyer, stated that the freezing order may result in the “shut-down, crippling and even thwarting of his other business, Wow Beverages Limited”.

Read: Billionaire Humphrey Kariuki Steps Down As DPP Seeks International Arrest Warrant

“In view of the grave excessive, punitive and unjustified harm loss, damage and prejudice, Wow suffers the loss of business,” he argued.

The lawyer further said the freezing orders were issued in bad faith since Kariuki did not take plea on Friday, August 9.

“There is no evidence of any risk or dissipation of any of the assets placed before court which include aeroplanes, ships and other immovable properties,” said Musyoki.

The court ordered the billionaire to appear in court on Monday, August 19.

This is not the first time Kariuki’s accounts are frozen.

Read Also: Police Hunt For Wanted Tycoon Humphrey Kariuki In London

In May, the high court allowed Kariuki access to his bank accounts that had been frozen in March.

In her ruling, Justice Wilfrida Okwany stated that the Kenya Revenue Authority (KRA) had sought to freeze the businessman’s four bank accounts at the Kenya Commercial Bank (KCB) in a bid to assess the tax he had allegedly evaded but remained silent on whether they had done the investigations or not.

The billionaire recently stepped down as chairman of anus Continental Group (JCG).

Kariuki, who police say has been traced in London, stated that stepping aside will give him time to focus on the case.

Read Also: DP Ruto’s Firm Grip On CS Sicily Kariuki During Bob’s Memorial Leaves Kenyans Talking

“In light of developments in the investigation process, Humphrey Kariuki recently made the decision to voluntarily stand aside as Chair of the Board of Janus Continental Group and its associate businesses,” reads a statement from Hellen Akello, the Chief Human Resources Officer.

“Humphrey Kariuki explained that this will allow him to focus his efforts on challenging the baseless claims in courts.

This comes in the wake of the revelations that the DPP is seeking an international warrant of arrest Kariuki.

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