State Releases DP Gachagua’s Ksh.202M
The state has returned to Deputy President Rigathi Gachagua Ksh.202 million that was forfeited to him.
According to the Asset Recovery Agency (ARA), after gathering new evidence, they discovered that the money forfeited to the state six months ago was not the proceeds of crime and that the Deputy President has satisfactorily explained the source and legitimacy of the said money.
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They claim that the new evidence was not presented to the judge at the time the high court issued its decision because the agency did not have it.
The Court of Appeal today vacated the forfeiture order issued by the High Court last year and set aside the said judgment of the High Court.
This means that funds held in three Rafiki Microfinance Bank accounts in Rigathi Gachagua’s name will be released to him.
Funds held in another Jenne Enterprises account will also be released.
Rafiki Microfinance Bank holds the funds in three accounts, one of which holds Ksh.165 million, another Ksh.35 million, and the third Ksh.773,228.
Jenne Enterprises has a fourth account with a balance of Ksh. 1,138,142.
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Mr. Gachagua stated last year that one of his hopes as Deputy President is to recover the frozen funds after the government questioned the source of Ksh.12.5 billion that passed through his bank accounts.
“And you know, if we take over the government… you know, this government froze my money, and when we take over, the money will be unfrozen,” the former Mathira MP said during a political gathering.
The proceeds, according to Gachagua, will be used to build infrastructure at his home where men will have fireside chats with him while women engage ‘Mama Gachagua’.
