Economy

Assets agency to keep Sh3.1m found hidden in Nigerian suspect’s jacket

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Summary

  • The Nigerian was charged on November 8, with offences of financial promotion under proceeds of Crime and Anti-Money Laundering Act.
  • He pleaded not guilty to two counts and was released on a cash bail of Sh150,000 and a personal bond of Sh200,000.
  • The law requires individuals travelling or sending parcels with a huge amount of money to declare and produce documents supporting the legitimacy of the cash.

The High Court has directed $28,000 (Sh3.1 million) seized from a Nigerian sent from US while concealed in a jacket be transferred to Assets Recovery Agency for preservation, pending conclusion of investigations as to whether the money are proceeds of crime.

Justice Esther Maina directed the money belonging Peter Oluwafemi Olaiwon be preserved for 90 days, pending conclusion of investigations by the State agency.

The funds will be deposited at Assets Recovery Agency (ARA)’s KCB account, at KICC branch.

The money was shipped to the country from South Carolina and concealed in a jacket. According to ARA, the money is suspected to be proceeds of crime.

The Nigerian came to Kenya on October 1 and was arrested when he went to City Square Post office to pick the suit case, which had been disguised as clothes and books, reportedly to conceal the money.

The Nigerian was charged on November 8, with offences of financial promotion under proceeds of Crime and Anti-Money Laundering Act. He pleaded not guilty to two counts and was released on a cash bail of Sh150,000 and a personal bond of Sh200,000.

ARA then commenced investigations into the legitimacy, source and destination of the funds, to find out whether they are proceeds of crime. Preliminary investigations, according to ARA revealed that Mr Olaiwon was an accomplice of Ms Linda Dye, an American residing in South Carolina.

“Investigations further established that the above fund was disguised and declared as a parcel of text books and clothes raising reasonable suspicion of money laundering scheme,” ARA said.

The law requires individuals travelling or sending parcels with a huge amount of money to declare and produce documents supporting the legitimacy of the cash.

Last year, Sh100 million in foreign currencies was seized from a Nigerian at the Jomo Kenyatta International Airport while heading to Dubai.