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Tuesday September 8, 2020 – Sleuths from the Asset Recovery Agency (ARA) are currently camping at the National Treasury and Office of the President following the looting of Sh 300 million.
According to a senior ARA officer who requested anonymity, the alleged theft was executed by Government insiders who used two individuals and their seven businesses to conceal the ultimate beneficiary.
Documents show how money was deposited into seven bank accounts and quickly withdrawn in cash.
The agency believes the move was to cover up the money trail.
Other than the Treasury and Office of the President, the suspected fraudulent payouts were also made by the Ministry of Interior, the Ministry of Defence, and State Department for Public Service and the Ministry of Health.
At the centre of the investigation are Ruth Nyambura James, who is the sole proprietor of five businesses and Stephen Musyoka Kinyamaso who runs two entities.
ARA has secured court orders from the High Court temporarily freezing more than Sh91 million in the accounts of the two individuals.
Nyambura had Sh58.6 million in her five business accounts at Equity Bank while Musyoka had Sh31.8 million also at Equity.
The Kenyan DAILY POST