Lately, billionaire Humphrey Kariuki has been in the news for all the wrong reasons.
Indeed, the elusive billionaire is wanted for questioning regarding allegations of tax evasion totalling a whopping $3 billion, as well as the production of counterfeit goods.
Nowhere To Be Found
According to reports, Kariuki together with his associates, went incognito after discovering investigators from the police service and the DCI had raided the premises from where they were conducting their various businesses.
Head of the DCI, George Kinoti, together with Inspector General Joseph Boinnet were part of the team of sleuths that led the crackdown on the company which was found in the possession of counterfeit products and fake goods totalling Kshs 1.2 billion.
In a statement to the press, Kenya Revenue Authority commissioner Githii Mburu said that the team had discovered over 21 million counterfeit stamps in one of the factories under Kariuki’s control.
According to the information from Mburu, this means that the government loses over Kshs 93 million with just one production shift.
Cackdrown on Counterfeit Goods
Orders from DCI Kinoti also authorized detectives to find out how the businessman has been bringing ethanol to the country from Tanzania.
Which has resulted in a massive economic destabilization of the ethanol industry.
In a press statement, Kinoti said that the detectives would like to unearth the exact structures that were used to create these counterfeit goods, as well as the networks through which these goods would be delivered.
In fact, KRA commissioner Githii Mburu estimates that the country loses over 4 million shillings every time 20,000 illegally smuggled litres of ethanol make it to the country.
Additionally, Boinnet also informed the media that one of the production managers heading the said factory had been arraigned in court, and will remain in detention for the week while investigations are carried out by the DCI