Lowtax Network

Back To Top

Jersey Supports Kenya With Action Against Corrupt Official

by Amanda Banks, Lowtax.net, London
07 March, 2017

Jersey and Kenya have signed an agreement paving the way for the return of over GBP3m (USD3.65m) in stolen assets to the people of Kenya.

The agreement, signed on March 3, 2017, is the latest step taken to secure the return of the funds, which were confiscated by the Royal Court of Jersey in February 2016. It follows Windward Trading Limited pleading guilty to four counts of laundering the proceeds of corruption.

According to the Jersey Government, the corrupt activities took place in Kenya where Windward's beneficial owner, a former CEO of the Kenyan Government's electricity utility company, is resident. Extradition proceedings to bring two Kenyan residents to Jersey to face money laundering charges in Jersey in connection with Windward's activities are ongoing.

Commenting on the agreement, the Chief Minister of Jersey, Ian Gorst, said: "The signing of this agreement conveys a powerful message that both Jersey and Kenya are committed to combatting issues of historic corruption and financial crime."

"The process is one that has understandably taken some time because of the legal complexities of confiscation and asset sharing. The completion of this agreement is a step towards ensuring these funds are returned to the people of Kenya, where they rightfully belong."

See all of today's news


News Archive

Event Listings

Listings for the leading worldwide conferences and events in accounting, investment, banking and finance, transfer pricing, corporate taxation and more...
See Event Listings »