The Assets Recovery Agency (ARA) has been granted rights to transfer Sh97.6 million to government from four bank accounts of suspects linked to loss of funds at the National Youth Service (NYS).
The High Court has ordered that the funds held in the accounts at different banks registered under Sam Mwadime and Charity Wangui Gethi be transferred to an account under the ARA at the Kenya Commercial Bank (KCB) #ticker:KCB.
The order follows an application by ARA director Muthoni Kimani on July 31 seeking preservation orders for the funds held by the duo on grounds that they were proceeds of crime.
“It is hereby ordered that the total amount of Sh97, 682,424 be deposited into the account…at KCB Limited KICC Branch in the name of the Applicant (ARA) until the final determination of the matter,” said the deputy registrar of the High Court in a Friday notice.
Ms Wangui is the mother of one of the key suspects in the theft of Sh791 million from the National Youth Service (NYS). She is said to have transferred part of the proceeds to an account under Mr Mwadime.
In February, Ms Wangui lost the fight to reclaim a downtown hotel in Nairobi after the High Court ruled that ARA should continue holding on to the hotel until conclusion of forensic investigations.
The restaurant — Eden Times Restaurant — located in Mercury Building on Tom Mboya Street was identified for seizure on suspicion that it was funded by funds stolen from the NYS.
Other properties seized under Ms Wangui’s name were a house in Rosslyn Estate valued at Sh63.5 million and a jeep valued at Sh6.3 million.
On November 25, 2015, the ARA secured orders freezing property suspected to have been bought using proceeds from the NYS scandal.
Following these developments, the court issued the orders prohibiting transfer, mortgage, attachment or disposal of three plots registered under Ms Wangui’s name in Muthaiga North in Nairobi and in Thika.