High Court Freezes $1 Million Sent to a Kenyan Woman from Mauritius

The High Court has frozen $1 million (Sh117 million) wired to a Kenyan woman by a company registered in Mauritius.

The money believed to be proceeds of crime was sent to a Standard Chartered Bank account belonging to Isabel Nyaguthii Wanjohi, who works at Platinum Credit Limited.

Justice Esther Maina of the Anti-Corruption Court issued orders barring Nyaguthii, her agents, or representatives from transacting, withdrawing, or using the said amount until the case filed by the Assets Recovery Agency (ARA) is heard and determined.

She also directed the Standard Chartered Bank to transfer the money to the Assets Recovery Agency (ARA) account at Kenya Commercial Bank (KCB) for preservation, pending the determination of the case.

In court documents, ARA says Nyaguthii received $1million on April 13th from Platcorp Holding Limited which is registered in Mauritius, purported to be an unsecured loan whose purpose was not disclosed.

Investigations revealed that Nyaguthii was planning a swift transfer of the funds to South Africa purporting to Premier Credit Limited.

The funds are believed to be proceeds of crime obtained from illegitimate sources while the respondent’s bank account is being used as a conduit for money laundering, according to investigators.

ARA says Nyaguthii failed to provide sufficient proof on why she received the money and why she wants to transfer the funds to South Africa.

Nyaguthii allegedly produced an agreement with Platcorp Holdings Ltd purporting the money was an unsecured loan and a second agreement dated April 7th, 2022, between her and Premier Credit, where she was to loan the company a similar amount. The purpose of the loan agreement was not disclosed and no one signed as a witness.

The case will be mentioned on September 12th for pretrial directions.