The Assets Recovery Agency obtained orders freezing Sh35 million held in bank accounts belonging to a company run by foreigners in Kenya.
This follows claims of money laundering.
Milimani High Court Judge Nixon Sifuna said EIS Afrika Group Limited and its directors shall not transact, withdraw or in any manner deal with funds held at I&M Bank.
The preservation order he said shall be in force for 90 days.
The orders were issued following an application by ARA that claimed the directors of the company were using it as a conduit of deceit and money laundering.
The company was registered on February 21 2024.
The agency told the court that on March 1 they received information into suspected money laundering schemes and proceeds of crime perpetrated by the firm.
They proceeded to obtain warrants to investigate the suspected company’s accounts.
An analysis of the bank statement established that the firm received ‘a suspicious US dollars 350,000 dollars from foreign jurisdiction in a scheme of money laundering’
The company allegedly withdrew some of the cash before ARA caught wind of it.
What remained is the amount that has since been frozen.
“There are reasonable grounds and evidence demonstrating that the funds held by the firm in the specified bank account are direct or indirect benefits, or proceeds of crime obtained from money laundering.”
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