Kenyan court freezes Burundian firm’s $274,000 in money-laundering case
A Kenyan court has ordered the continued freezing of $274,000 held by a local affiliate of a Burundian engineering firm. The Assets Recovery Agency alleges the funds are linked to money laundering, despite a previous High Court ruling that found insufficient evidence of criminal activity.
Why it matters
This case highlights the ongoing challenges in cross-border financial regulation and the enforcement of anti-money laundering laws in East Africa.
A Kenyan court has upheld a freeze of thousands of dollars held by a local affiliate of a Burundian engineering firm, as the Assets Recovery Agency (ARA) pushes for its forfeiture, alleging that the money is from proceeds of crime.
The Court of Appeal sitting in Nairobi said the $274,369.56 belonging to EIS Afrika Group Ltd and held in I&M Bank should remain preserved until the agency’s appeal is heard and determined.
A three-judge bench ordered that that the substantive appeal be heard within 60 days.
The dispute arose after ARA sought to have the funds forfeited to the Kenyan government, alleging that investigations launched in March 2024, following intelligence reports, uncovered what it described as a money-laundering scheme involving cross-border transfers designed to disguise the origin and movement of illicit funds.
Read: Construction is Kenya’s top money laundering sector
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