News

By Ayub Savula

ODM announced plans to recover an estimated Sh700 billion allegedly stashed in offshore accounts, if it forms the next government. ODM Secretary General, Prof Anyang’ Nyong’o, also said the party would implement the Ndung’u report on land grabbing and the Kroll Report on looting if Mr Raila Odinga becomes the next president.

"Close to 700 billion shillings are hidden abroad by the past and present regimes. The latest information contained in the Kroll Report shows how this money left this country through Goldenberg, Anglo Leasing and other scams," said Nyong’o. He said ODM had proposed a comprehensive programme of restitution and closure through a properly constituted Truth and Reconciliation Commission to handle the matter.

"Culprits will be given a window of opportunity to return the ill-gotten wealth," said Nyong’o. He said those who fail to confess would face the Penal Code and Anti-Corruption and Economic Crimes Act. Nyong’o was speaking during a news conference at the Orange House. ODM Publicity Secretary, Ahmed Ashi, accompanied him.

Meanwhile, secret documents relating to investigations into a massive tax evasion and money laundering scam have been posted on the Internet. The papers relate to an ongoing probe into economic crimes by Charterhouse Bank and related companies. They appear on wikileaks.org, the same website that recently leaked a confidential interim report by international risk consultancy, Kroll, on looting during the Moi regime.

The leakage shows that the tax evasion scams run in collusion with at least five local banks and cost Kenya a tenth of its national income every year. A recent auditor’s report says the scale of the operations "threatens the stability of the Kenyan economy". The Government is being accused of failing to act on evidence of an alleged banking fraud worth $1.5 billion (Sh100 billion). The alleged scam was first exposed by whistleblowers as early as 2004.