This archive report was first published on 24 December 2021.
On December 24, 2021, the High Court issued a preservation order freezing two bank accounts holding Sh50 million sent to Jane Wangui Kago by a Belgian man suspected to be part of a money laundering scheme.
The court froze the two accounts at Equity bank belonging to Kago, with one account holding Sh 3,11,800 and another having Euros 355,990.13 (equivalent Sh 45,566,720).
Justice Grace Nzioka prohibited Kago from withdrawing the money, pending the determination of a case filed by Assets Recovery Agency.
The agency suspects that Kago is part of a syndicate involved in a complex money laundering scheme, and that the money is proceeds of crime.
The agency told the court that there was imminent risk that the funds may be withdrawn, transferred or dispatched if the preservation orders are not granted.
