Jersey returns confiscated assets to Kenya

Thursday, 09 March 2017
The Jersey government has agreed to return over GBP3 million to Kenya in connection with the prosecution of Windward Trading Limited, a Jersey-registered company beneficially owned by former Kenya Power Managing Director, Samuel Gichuru.

 

The money was confiscated by the Royal Court of Jersey in February 2016 after Windward pleaded guilty to laundering the proceeds of corruption.

According to Business Daily Africa, Windward’s offshore account 'is said to have been used to receive kickbacks in exchange for the award of lucrative tenders to foreign firms during Mr Gichuru's two-decade tenure at the helm of Kenya Power'.

The confiscation order was used to seized all Windward's Jersey assets, some of which have been retained by Jersey to go towards the legal and law enforcement costs of the investigation.

In June 2011, the Attorney General of Jersey requested the extradition of Samuel Gichuru and Chrysanthus Okemo, the former Kenyan Energy Minister, from Kenya, to face money laundering charges in Jersey in connection with Windward's activities. The extradition proceedings are ongoing, says the government of Jersey.

According to news reports, Gichuru claims that Windward's guilty plea in Jersey was made by a person acting without his authority, and that his lawyers in Jersey were not aware of the proceedings.

Sources

Topic
Taxation
Section
Industry News
Resource type
Newsletters
Country
Jersey
Kenya

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