State hands back DP Gachagua’s Ksh.202M frozen six months ago
The Asset Recovery Agency (ARA) has said that after gathering new evidence, they found out that the money forfeited to the state six months ago was not proceeds of crime and that the Deputy President has explained the source and legitimacy of the said money to satisfaction.
They claim that at the time the high court was issuing its judgement, the new evidence was not placed before the judge since the agency was not in possession of the said evidence.
Today the Court of Appeal vacated the forfeiture order issued by the High Court last year and also set aside the said judgment of the High Court.
This means that funds held in three accounts at Rafiki Microfinance Bank in the name of Rigathi Gachagua will be released to him.
Funds held in another account belonging to Jenne Enterprises will also be released.
The funds, at Rafiki Microfinance Bank, are held in three accounts with one holding Ksh.165 million, a second account holds Ksh.35 million and the other holding Ksh.773,228.
A fourth account, holding Ksh. 1,138,142, is registered in the name of Jenne Enterprises.
Mr Gachagua said last year that one of his dreams when he becomes Deputy President will be to recover the frozen money after the government questioned the source of Ksh.12.5 billion that passed through his bank accounts.
“And you know if we take over the government... you know this government froze my money when we take over, the money will be unfrozen,” the former Mathira MP said in a political meeting.
The proceeds, Gachagua said, will be used to construct infrastructure at his home where men will have a fireside chat with him as women engage 'Mama Gachagua'.
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