Court freezes airlines’ accounts over fraud
By Nancy.Gitonga, October 2, 2023
The High Court has frozen Sh18.9 million belonging to two private airlines operators over money laundering allegations.
Justice Esther Maina of the Anti-Corruption Division issued orders freezing the accounts of GLO-Jet International Limited and Cullinan Private Jet Corp over illegal bank transactions following an application by the Asset Recovery Agency (ARA).
Justice Maina issued orders barring the two international firms from dealing with millions of shillings held at four accounts at the I&M Bank and Eco Bank for 90 days.
“This court issues preservation orders prohibiting the respondents (GLO- Jet International limited and Cullinan Private Jet Corp) and or their agents or representatives from transacting, withdrawing, transferring, using and any other dealings in respect of funds held in the four bank accounts,” Justice Maina ordered.
She restrained Cullinan Private Jet Corp Ltd from dealing with $54,257 and $696,070 held in two bank accounts at I&M Bank.
GLO- Jet International was on the other hand barred from handling $24,712 and $1,134,691 held in two accounts at Ecobank Limited.
According to ARA, the monies were sent from the US in three tranches in dollars.
While seeking the freeze orders, the State agency told Justice Maina that on August 25, it received intelligence that holders of the bank accounts had transacted funds suspected to be proceeds of criminal activities and money laundering.
According to ARA, court documents and financial investigations it conducted revealed complex fraud and money laundering schemes conducted by the airlines, their directors and associates.