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ROTICH IN A FIX AS DCI BLOCK ALL LOOPHOLES 738 MILLION TRANSFER STOPPED

ROTICH IN A FIX AS DCI BLOCK ALL LOOPHOLES 738 MILLION TRANSFER STOPPED

Bank accounts for two companies Stanlid Wealth Amana and Azapco Ltd—which are associated with the Sh63 billion dams’ scandal have been frozen for trying to transfer Sh734 million. Former Treasury Cabinet Secretary Henry Rotich, former Principal Secretary Kamau Thugge, and 26 others are already facing charges over the scandal The order to freeze the banks

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Bank accounts for two companies Stanlid Wealth Amana and Azapco Ltd—which are associated with the Sh63 billion dams’ scandal have been frozen for trying to transfer Sh734 million.

Former Treasury Cabinet Secretary Henry Rotich, former Principal Secretary Kamau Thugge, and 26 others are already facing charges over the scandal

The order to freeze the banks was issued on Thursday by Senior resident Magistrate Caroline Nzibe Muthoni, following an investigation by the Directorate of Criminal Investigations (DCI).

The court directed that the bank accounts will remain frozen for a period of 180 days.

The Investigating Officer told the court that preliminary investigations had revealed that Stanlid Wealth Amana was in process of transferring Sh734 million to Azapco Limited before the freezing order was issued.

The court heard that a search at the registrar of companies has revealed that the two companies did not appear to have any resemblance and their directors are still not known.

The prosecution told the court that the investigating team needs time to ascertain how the accounts were opened Standard Chartered bank, Westlands branch.

The Anti- Corruption Court has since issued warrants of arrest against two Italians who are directors of two companies that benefited from Sh 63 billion meant for the development of Arror and Kimwarer multi-purpose Dam projects.

One of the director is named in court documents as Paolo Porcell with others in two others companies CMC Di Ravenna and CMC Ravenna
Kenya branch are to be arrested and taken to court.

The warrants were issued last week after the two Italians failed to appear in court when their co-accused were first charged.

The court further directed the DPP’s office to file the list of all directors of the two foreign companies. 

By John Osoro

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