The money held at Standard Chartered Bank belongs to Stanlib Wealth Amanah Property Limited
A Nairobi Court has frozen over Sh734.5Million suspected to be related to Arror and Kimwarer Dam scandal for 180 days.
The money held at Standard Chartered Bank and which belongs to Stanlib Wealth Amanah Property Limited, is under investigations for money laundering according to the DCI.
The Investigating officer attached to DCI headquarters had earlier being given 7days to freeze the accounts and a warrant to carry out investigations a duration which lapsed today.
The investigator Isaac Ogutu asked the court to grant him 6 months to continue investigating.
According to the officer the owners of the company have not been arrested nor charged in court.
According to court documents on 24th July the account holders made application to the bank to transfer the sh734.5 Million to Azepco general trading company limited in Dubai a company that is suspected to be linked to the Dam scandal.
It's suspected that Azepco General trading company also received 5.8 Million Euros from an Italian firm CMC DI Ravenna suspected to be deeply involved in the Dam scam.
Senior resident magistrate Caroline Nzibe issued the orders freezing the accounts for 180 days as prayed for by the investigating officer.