Assets agency says MP Rigathi Gachagua can't explain Ksh.200M in his bank accounts

The bank accounts became the subject of conversation in July 2021 after the Recovery Agency filed a petition seeking to have them forfeited to the State over claims that the cash they were holding was acquired fraudulently. The three bank accounts were holding Ksh. 165 million, Ksh. 35 million and Ksh. 773,228 respectively.

On diverse dates between 2013 and 2020, ARA also claimed that a total of Ksh.7.3 billion and Ksh.12.5 billion, in debit and credit transactions respectively, were made through the accounts.

“Submissions by the respondents do not explain any legitimate source of the funds in issue and there is no linkage between the alleged “loans” acquired or guaranteed for the funds in issue. The alleged “loans’’ are just decoys of money laundering to mislead this honourable court.” ARA said in official court documents seen by Citizen Digital.

The recovery agency similarly dismissed claims made by the MP purporting that he and businesswoman Anne Kimemia, who is the second respondent in the case, transferred funds from conduit companies to their accounts to trade with, labelling the allegations as frivolous.

“This is because the companies are legal entities that can enter into agreements with other entities including the shareholders or directors and there is no existence of such agreements between the Respondents and the companies,” the Recovery Agency added.   

Throughout the case’s proceedings, Gachagua has maintained that he is the victim of a political witch hunt but ARA has brushed off his allegations.

“We submit that the issue before this Honourable Court is the legitimacy of the funds in issue and whether the same can be forfeited to the State, the issue is not about his political inclination or association," ARA submits.