More than Sh380 million in which was stashed abroad would likely be pumped back into the Kenyan economy after the government of Jersey struck a deal with the Kenyan authorities.
The agreement paving the way for the return of the money was signed March 3, This specific year between the two governments.
The agreement is usually the latest step taken by both governments to secure the return of the funds which were confiscated by the Royal Court of Jersey in February 2016.
This specific is usually after defendant company Windward Trading Limited, associated with former Kenya Power Company boss Samuel Gichuru, pleaded guilty to four counts of laundering the proceeds of corruption.
The corrupt activities took place in Kenya in addition to in May 2011, the United Kingdom issued a warrant of arrest against Mr Gichuru in addition to former Nambale MP Chris Okemo over alleged corruption in addition to money laundering.
The Attorney General of Jersey requested the extradition coming from Kenya of the two to face money laundering charges in Jersey in connection with Windward’s activities.
The extradition proceedings are still ongoing.
Treasury Principal Secretary Dr Kamau Thugge, who signed the agreement on behalf of Kenya, on Tuesday said the government was happy for the progress so far made.
“We are delighted to reach agreement with the Government of Jersey on This specific important matter. We welcome the positive cooperation between Kenya in addition to Jersey in addition to look forward to an enhanced partnership in future,” Dr Thugge said.
The Chief Minister of Jersey, Senator Ian Gorst, who represented the government of Jersey, said the two countries will tackle finance related crimes without fear or favour.
“The signing of This specific agreement conveys a powerful message in which both Jersey in addition to Kenya are committed to combating issues of historic corruption in addition to financial crime,” he said.
The process, they observed, has taken time because of the legal complexities of confiscation in addition to asset sharing.
Senator Gorst said the completion of the agreement is usually a step towards ensuring these funds are returned to the people of Kenya, where they rightfully belong.
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Kenya strikes deal to repatriate stolen millions stashed abroad