Switzerland : suspected to be proceeds of corruption in Kenya, has been frozen in Swiss bank accounts as part of the effort to recover and repatriate stolen funds. The money is linked to the multi-billion Anglo leasing scam – one of the largest in the history of corruption in Kenya. “Money has been frozen in Switzerland in relation to the Anglo-Leasing case in the amount of approximately $2 million,” Saskia Salzmann, a diplomatic attaché’ at the Embassy of Switzerland to Kenya, Burundi, Rwanda, Somalia and Uganda, told the Business Daily, adding that these would probably be the first assets to be returned to Kenya.
Kenya is suspected to have lost more than $600 million (more than Sh50 billion) in the Anglo Leasing scam. The money was lost in 18 security-related contracts awarded to companies that did not render services or deliver goods paid for.
Some of the companies were later found to have supplied substandard equipment at highly inflated prices. Ms Salzman said the money is being repatriated on condition that judicial proceedings on the Anglo-leasing case will come to an end and a final and executable judgment is delivered.
Swiss authorities said on Monday that recovering the money was part of a revamped and wider offshore scrutiny of proceeds of graft and assets that corrupt Kenyans have hidden in the European country’s banks.
