The Asset Recovery Agency (ARA) wants Sh 289 million belonging to a company run by a Congolese national to be forfeited to the state.
ARA believes the money to be proceeds of crime and used as conduits of money laundering.
The company, Groupe Elykia Limited and its directors Jean-Paul Tshikangu Musangu and Venan Ma-Mabiala Mabiala are accused of acquiring the money through proceeds of crime.
“There are reasonable grounds to believe that the funds in issue are proceeds of crime, acquired from, are the profits or benefits of proceeds of crime and are used as conduits of money laundering,” Chief Inspector Fred Musyoki said.
The money includes USD. 1,747,105.15 (apprx Sh 55,704,671.66) held at Stanbic Bank Limited in the name of Groupe Elykia Limited.
Additionally, there is another USD. 305,950.87 (apprx Sh 34,847,804.09) at Stanbic in the name of Jean-Paul Tshikangu Musangu and USD. 488,423.25 (apprx Sh 199,257,342.36) in the name of Mabiala.
ARA on Mercedes
ARA is also wants the court to declare Musangu’s Mercedes Benz KDE 033S as proceeds of crime and therefore liable for forfeiture to the State.
According to the agency, there are reasonable grounds to believe that the funds are proceeds of crime.
In addition, the investigator said it is in the interest of justice that forfeiture orders do issue forfeiting the funds.
“Unless the court grants the orders sought, the respondents shall illegitimately enjoy the economic advantage derived from the commission of crimes and acquisition of proceeds of crime or profits and benefits of crime,” Musyoki added.
The agency further said that on 3rd December 2021, it received information into suspected complex money laundering schemes and acquisition of proceeds of crime involving Groupe Elykia ltd, Musangu and Mabiala.
The investigator claims that the three executed a complex scheme of money laundering designed to conceal, disguise the nature, source, disposition and movement of the illicit funds, suspected to constitute proceeds of crime.