The High Court has ordered two private jet companies, Cullinan Private Jets Corp and Glo Jets International Limited, to forfeit Ksh706 million to the government after ruling that the funds were proceeds of crime.
The two firms have been linked to Kenyan businessman Philip Chrisantus Obure, alias Chris Obure.
The court’s decision follows a suit filed by the Assets Recovery Agency (ARA) under the Proceeds of Crime and Anti-Money Laundering Act.
Cullinan Private Jets Corp had USD 5.4 million (approximately Ksh698 million) in an account at I&M Bank, along with an additional Ksh696,070 in another account at the same bank. Glo Jets International Limited held USD 24,712 (about Ksh3.1 million) and Ksh1.1 million in two separate accounts at Ecobank Bank Limited.
While delivering the ruling, Justice P.J. Otieno of the Anti-Corruption and Economic Crimes Division stated that the companies failed to provide a legitimate explanation for the source of the funds. “
“The companies have not demonstrated any lawful basis for the funds held in these accounts. As such, the money is presumed to be proceeds of crime,” he ruled.
Consequently, he directed that the entire amount be surrendered to the Assets Recovery Agency, which will take full ownership on behalf of the government.
“The funds are to be forfeited to the government through the Assets Recovery Agency, as there is no credible justification provided for their acquisition,” the judge declared.
