Mathira MP Rigathi Gachagua is unable to prove the source of Ksh.200 million in three of his Rafiki Microfinance bank accounts, which he claims to have obtained through a loan.
The bank accounts became the subject of discussion in July 2021, after the Recovery Agency filed a petition to have them forfeited to the State due to allegations that the cash they were holding was obtained fraudulently.
The three bank accounts each held Ksh. 165 million, Ksh. 35 million, and Ksh. 773,228.
ARA also claimed that between 2013 and 2020, a total of Ksh.7.3 billion and Ksh.12.5 billion in debit and credit transactions were processed through the accounts.
“The respondents’ submissions do not explain any legitimate source of the funds in question, and there is no linkage between the alleged “loans” acquired or guaranteed for the funds in question.” The alleged “loans” are merely ruses for money laundering designed to mislead this august court.”
Similarly, the recovery agency dismissed claims made by the MP that he and businesswoman Anne Kimemia, the case’s second respondent, transferred funds from conduit companies to their accounts to trade with, calling the allegations frivolous.
“This is because the companies are legal entities that can enter into agreements with other entities such as shareholders or directors, and such agreements do not exist between the Respondents and the companies,” the Recovery Agency added.
Gachagua has maintained throughout the proceedings that he is the victim of a political witch hunt, but ARA has dismissed his claims.
“We submit that the issue before this Honourable Court is the legitimacy of the funds in issue and whether they can be forfeited to the State, not his political inclination or association,” ARA says.
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