Sunday, December 26 2010 at 19:59

http://www.nation.co.ke/News/-/1056/1078992/-/11gjn4sz/-/

The Kenya Anti-Corruption Commission (Kacc) has recovered Sh50 million stashed abroad in the last two months.

Kacc director Patrick Lumumba said this was part of billions of shillings looted from government coffers. 

“Foreign countries have volunteered to assist Kenya in recovering stolen monies.

Switzerland, Britain and the United States of America have been assisting us in exposing those who looted government coffers and stashed the money abroad,” he said.

Speaking in Yala, Prof Lumumba said the Proceeds of Crime and Anto-Money Laundering Act would be strictly enforced to punish thieves.

“The war on corruption cannot be fought single-handedly, but through joint efforts to ensure the corruption cartels are eradicated in every way,” he said.

The anti-graft chief pledged to rollout a name and shame campaign next year to expose prominent people tainted with corruption.

A report by the British firm Kroll and Associates, which was leaked in late 2007, alleged that an estimated Sh130 billion was stashed in overseas banks by a corruption network involving politicians and business people.

The money is believed to have been obtained through the two biggest financial scandals in post-independent Kenya - Goldenberg and Anglo Leasing.

The report shows how the regime of former President Moi siphoned money to offshore accounts in Switzerland, USA and Britain.

The report exposed an intricate web of sleaze in which influential people in the Moi regime used shell companies to stash huge amounts of money abroad.

The Mutual Legal Assistance Bill, which will help trace the money stashed abroad, has been pending in Parliament. It is now at the Committee Stage where amendments are expected.

The details how a mid-sized bank was involved in getting vast sums of money out of the country through its foreign currency accounts.

The same bank had already laundered $200m (Sh16 billion) on behalf of the former Nigerian president Sani Abacha, with the assistance of a Swiss-based financier.

The countries where some of the money was traced to include Britain, Switzerland, South Africa, United States, Namibia, Malawi and little known states like Cayman Islands and Brunei.