[MEDIA=twitter]1336958039191154688[/MEDIA]
Clever way to launder money…unapewa fixed odds unawekelea, unalipwa kisha unapeana cut
[SIZE=5]Musa Sirma mentioned. Are these the proceeds of corruption or drugs?[/SIZE]
[SIZE=7]Sh300m from betting firm frozen on laundering fears[/SIZE]
Wednesday December 09 2020
A businessman received more than half a billion shillings from betting firm Mozzartbet Kenya Ltd in what has been flagged as a suspicious case of money laundering.
https://www.businessdailyafrica.com/resource/blob/2244732/83cdf185fe8bf0b588b0339cca31ad6d/bet-data.jpghttps://www.businessdailyafrica.com/resource/blob/2109126/077499b7330277cdd8ab115eb255c273/bdgeneric-logo-data.jpg
By SAM KIPLAGAT
More by this Author
IN SUMMARY
The High Court has frozen over Sh300 million belonging to a businessman who received more than half a billion shillings from betting firm Mozzartbet Kenya Ltd in what has been flagged as a suspicious case of money laundering.
Justice James Wakiaga ordered the preservation of the funds held at Diamond Trust Bank and Co-operative Bank, belonging to Kimaco Connections Ltd and Pescom Kenya Ltd, whose directors are Peter Kiilu Makau and Consolata Mwende Kiilu.
The court heard that Kimaco Connections received Sh576 million from MozzartBet Kenya between February and June and Sh95 million from a software firm, Open Skies, which is owned by a Zimbabwean that is also a shareholder in the betting firm.
Kimaco Connections later wired Sh242 million to the accounts Open Skies Management, in what is alleged by authorities as a suspect transaction.
Investigations by Assets Recovery Agency (ARA) shows that MozzartBet received Sh641 million between February and June.
Of the amount, Sh384 million was through paybill number 311372 and the funds were later distributed to several companies, including Open Skies.
Further investigations reveal that Emmanuel Charumbira, who owns Open Skies Management, is also a director of MozzartBet Kenya and MozzartBet Africa.
The agency says the transactions constitute snuffing and layering of funds in money laundering scheme, to conceal the movement of cash. And despite receiving the amount, Kimaco Connections filed nil returns to evade paying tax.
Other directors of MozzartBet as per court documents are former MP Musa Cherutich Sirma, MozzartBet Africa and Mid Logistics Ltd.
Melentijevic Branimir of MozzartBet Africa and Mid Logistics signed an agreement with Mozzartbet Kenya in August 2016.
The court documents show that Mr Branimir received Sh12.8 million from Kimaco while Mr Sirma was given Sh17.2 million from Pescon Kenya.
The ARA told the court that the bank accounts and the M-Pesa paybill linked to Mr Kiilu and Kimaco Connections were being used as conduits of money laundering.
Crossborder transfer of money is easy and currency will change according to country you are in
Hawa watu wako ujanja gani ya kuhustle
Siwezimind kulipa thao kujua.
Pia mimi.