This archive report was first published on 16 August 2019.
Billionaire Humphrey Kariuki's Assets Frozen in Sh41 Billion Tax Evasion Case ¶
On August 9, 2019, the Director of Public Prosecutions (DPP) obtained orders from Milimani Resident Magistrate Caroline Nzibe to preserve the properties and freeze all accounts of billionaire businessman Humphrey Kariuki.
Mr. Kariuki is facing Sh41 billion tax evasion charges and has stepped down as the chairman of his Janus Continental Group (JCG), an international conglomerate with interests in the Energy, Hospitality, and Real Estate sectors.
The DPP's application named Wow Beverages, African Spirits Limited, and Mr. Kariuki as respondents. However, Mr. Kariuki has filed an application seeking to reverse the orders, arguing that the court erred in seizing properties of Wow Beverages Limited.
Through his advocate Benjamin Musyoki, Mr. Kariuki argues that the orders have the effect of shutting down, crippling, and thwarting the business of Wow Beverages Limited. He claims that the orders were obtained in bad faith since he did not take a plea on August 9, 2019.
Mr. Kariuki's business conglomerate includes The Hub Karen Mall in Nairobi, Africa Spirits, Dalbit Petroleum, and Great Lakes Africa Energy. He is also the owner of the 5-star Fairmont Mount Kenya Safari Club, private planes, and over 80 high-end vehicles.
