Kenyan court freezes Burundian firm’s $274,000 in money-laundering case
Kenya's Assets Recovery Agency (ARA) pushed for the forfeiture of thousands of dollars held by a local affiliate of a Burundian engineering firm, alleging that the money is from proceeds of crime.
A Kenyan court has upheld a freeze of thousands of dollars held by a local affiliate of a Burundian engineering firm, as the Assets Recovery Agency (ARA) pushes for its forfeiture, alleging that the money is from proceeds of crime.
The Court of Appeal sitting in Nairobi said the $274,369.56 belonging to EIS Afrika Group Ltd and held in I&M Bank should remain preserved until the agency’s appeal is heard and determined.
