Sh200 Million Stashed in Foreign Accounts By Kenyans Frozen

Swiss authorities have reportedly frozen more than $2 million (Sh201 million) suspected to be proceeds of corruption in Kenya.

The cash is part of the more than Sh96 billion allegedly stashed in Swiss bank accounts by graft lords. The freezing is part of Kenya-Switzerland continued efforts in recovery and repatriation of stolen funds. 

The money is linked to Anglo leasing scam – one of the largest loss of taxpayers cash to be reported in the history of Kenya.

 “Money has been frozen in Switzerland in relation to the Anglo-Leasing case in the amount of approximately $2 million,” Saskia Salzmann, a diplomatic attaché’ at the Embassy of Switzerland to Kenya told Business Daily.

Kenya allegedly lost more than Sh50 billion in the Anglo Leasing scam. Companies awarded 18 security-related tenders in the scandal didn't deliver services or goods paid for.

Top officials in retired President Mwai Kibaki’s administration including former Vice-President Moody Awori, former Internal Security minister Chris Murungaru and former Finance minister David Mwiraria were adversely mentioned in the scandal.

The freezing comes two weeks after President Kenyatta and his Swiss counterpart Alain Berset signed an agreement dubbed the Framework for the Return of Assets from Corruption and Crime in Kenya (FRACCK).

“The Framework for the Return of Assets from Corruption and Crime in Kenya is not limited to a specific case or amount of money to be returned,” Ms Salzmann said.