Anglo-leasing scandal money set to be recovered as International Bank sets conditions

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Anglo-leasing is the father of all corruption cases. But the fight to nail the suspects who siphoned this money has never been halted. The process of recovery is still on.

Kenyans will have to wait much longer before receiving over $2 million (about Sh200 million), suspected to be proceeds of corruption that have been frozen in Swiss bank accounts as part of efforts to recover and repatriate looted funds.

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The money is linked to the multibillion Anglo Leasing scam — one of the biggest frauds in the history of corruption in Kenya.

Swiss authorities now say the funds will only be wired to Kenya subject to completion of judicial proceedings on Anglo Leasing cases and a ruling on recovery of the money.

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“(The) assets seized in Switzerland may be returned to Kenya based on a final and executable confiscation decision from the Kenyan Judiciary,” Ms Saskia Salzmann, a diplomatic attaché’ at the Embassy of Switzerland to Kenya, Burundi, Rwanda, Somalia and Uganda, said.

“For the money to be returned, the court proceedings first have to end in Kenya. Currently, court proceedings in the Anglo Leasing case are still ongoing and a final verdict has not been reached,” she added in an interview.

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Kenya is suspected to have lost more than $600 million (more than Sh60 billion) in the Anglo Leasing scam. The money was lost in 18 security-related contracts awarded to companies that did not render services or deliver goods paid for.

Some of the firms were later found to have supplied substandard equipment at highly inflated prices. Swiss authorities said in July last year that recovering the money was part of a revamped and wider offshore scrutiny of proceeds of sleaze and assets that corrupt Kenyans have hidden in the European country’s banks.

Top officials in former President Mwai Kibaki’s government were adversely mentioned in the Anglo Leasing scandal.

The list included former vice-president Moody Awori, former Internal Security minister Chris Murungaru and former Finance minister David Mwiraria.


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