Firm loses Sh10m to government in pyramid scheme war

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The High Court has allowed a State agency to seize 12 vehicles suspected to be proceeds of crime. PHOTO | SHUTTERSTOCK

The High Court has ordered Sh10 million belonging to a company suspected to be involved in a pyramid scheme, forfeited to the government after the firm’s director failed to explain the source of the funds.

Justice Esther Maina ruled that the money linked to Kivaa Ventures Ltd be transferred to the Assets Recovery Agency (ARA).

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Note: The results are not exact but very close to the actual.