Former Finance CS Ukur Yattani is among high profile figures expected at the EACC Integrity Centre over graft.
Reports indicate that the former CS is expected at EACC offices at 9.30 AM. Those privy to the goings-on say officers on Wednesday raided his Marsabit home in connection with the graft probe.
Last year, the anti-graft agency was looking to charge Yattani, former Treasury PS Julius Muia and Controller of Budget Margaret Nyakang’o over the Sh6 billion Telkom acquisition.
The buyout deal was entered four days before the August 9, 2022, elections.
The State bought 60 per cent of the ordinary shares of Telkom Kenya held by UK-based Helios Investors LLP and its Mauritius-based subsidiary, Jamhuri Holdings Limited, for Sh6.09 billion.
During the period spanning from July 1 to September 30, as detailed in its latest quarterly report published in the Kenya Gazette, the Ethics and Anti-Corruption Commission (EACC) revealed its findings regarding the takeover of Telkom Kenya Limited. According to the report, the Communication Authority (CA) had not granted approval for the acquisition due to the non-fulfillment of certain conditions by the company involved.
The investigation was initiated in response to a complaint lodged by the Clerk of the National Assembly in a letter dated March 6, 2023.
Furthermore, the EACC report highlighted that the Office of the Attorney General had not issued its legal opinion on the matter, and there was no evidence of the AG’s advice or comments being incorporated into the contractual documents pertaining to the takeover.
“Investigations also revealed that the acquisition of shares by the Government of Kenya from Jamhuri Holdings Limited did not meet the threshold as provided in Regulations 40 (3) and 4 (a) of the Public Finance Management (National Government) Regulations 2015 since the transaction was not unforeseen and unavoidable,” EACC said.
Additionally, EACC recommended the prosecution of several key figures within Telkom Kenya Ltd, including its CEO, board chair, Chief Operating Officer, Chief Strategy and Business Development Officer, and Chief Finance Officer. The EACC also singled out a transaction officer associated with Helios Investors LLP for charges.
The commission laid out ten counts against these individuals, including conspiracy to commit economic crimes. The Director of Public Prosecutions (DPP) was urged to approve 15 counts related to abuse of office, as well as two alternative counts concerning willful failure to comply with financial management laws.
Among the array of charges proposed were conflict of interest, dereliction of official duty, fraudulent acquisition, money laundering, receipt of proceeds from crime, deception of principal, and deliberate disregard of procurement laws.
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