Rigathi Gachagua Wealth: The State is now unable to track over Sh. 5 billion that was deposited in the bank accounts of Mathira MP Rigathi Gachagua. The controversial MP is facing accusations of money laundering.
The Asset Recovery Agency (ARA) has told the court that it could not find bank statements to show how the balance Sh. 5.1 billion out of Sh. 12.4 billion were withdrawn from the fixed deposit account. Apparently, Gachagua had received more than Sh. 12.5 billion through three accounts at Rafiki Micro Finance Bank in a period of seven years.
“Within the said period, account at Rafiki Microfinance Bank in the name of the 1st respondent, Rigathi Gachagua, operated as a collection account conducted several suspicious transactions and received suspect funds from the companies/business entities which had received huge suspicious payments from National government ministries, agencies and county government,” the agency said in its suit papers.
The MP’s accounts now have a balance of Sh. 200 million after Sh. 7.3 billion was withdrawn in what the ARA has termed as money laundering.
In June, the State filed documents in court that showed how Gachagua received billions of money from the government in his private accounts. The documents filed in court showed that within seven years, the MP received Sh. 5.8 billion, which included funds from companies or business entities providing services to ministries, state agencies and county governments.
This meant that per day, the MP got an equivalent average of Sh. 2.3 million over the said period. These revelations come as the court blocked some Sh. 200 million which is his current account balance.
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In May this year, Milimani Court Senior Resident Magistrate Muthoni Nzibe barred MP Rigathi and five companies associated with him and his close allies from transacting with the accounts at Rafiki Microfinance Bank for seven days.
“The funds emanated from the Ministry of Lands (Kenya Informal Settlements Programme), State Department for Special Planning, Ministry of Health, Bungoma County government, Mathira Constituency Development Fund, Nyeri County government and the National Irrigation Board” a report said.
“Justice John Onyiego of the Anti-Corruption Division of the High Court stopped the MP and Jenne Enterprises from dealing with or transferring the funds. The funds at Rafiki Micro Finance Bank are held in three accounts, with one holding Sh. 165 million, a second account holds Sh. 35 million while the other holds Sh. 773,228. All the three are registered in the name of MP Rigathi Gachagua. A fourth account, holding Sh. 1,138,142, is registered in the name of Jenne Enterprises.”
Rigathi Gachagua Wealth.