Switzerland helps Kenya recover money from hidden corruption in Swiss accounts :: Kenya

Kenya has signed an agreement with Switzerland to facilitate the return of stolen species, as part of a development targeting some 72 billion shillings stagnant in Swiss accounts.

President Uhuru Kenyatta and his Swiss counterpart, Alain Berset, yesterday oversaw the signing of the crucial agreement that paves the way for the recovery of hidden ill-gotten wealth in Switzerland, marking a new step in the struggle against corruption. [19659003] ALSO READ:

The family writes to Uhuru on the Sh6b landline

Although the release of the two leaders did not mention any precise figure, past reports placed the amounts hidden by the Kenyans in the Swiss accounts between 51 billion and 72 billion shillings.

The government needs this amount to fund free elementary and secondary education during the current fiscal year. If it were shared among the 48 million Kenyans, each person would receive 1,500 shillings.

Yesterday, it was announced that the first badets targeted by the Framework for the Return on Assets against Corruption and Crime in Kenya (FRACCK) would include the money stolen through the Anglo Leasing scandal and hidden in Switzerland .

Corrupt Persons

The two presidents stated that the agreement would create a mechanism for Kenya to recover money stolen by corrupt individuals and hidden in Switzerland, the UK United and in the island of Jersey.

The ex-tsar of the fight against corruption, John Githongo, who denounced the scandal Anglo Leasing in 2004, said that it was difficult to establish the amount of money. ;case.

"What I know is that Sh220 million have been frozen up to now in the Swiss accounts and the figure can be revised once the Swiss authorities investigate and establish that the money comes from the proceeds of corruption, "said Githongo.

He praised the development the following days after Switzerland returned $ 1.2 billion (120 billion shillings) to Nigeria after President Mohamadu Buhari signed an agreement with the Swiss government at the beginning of the year. # 39; year.

ALSO READ:

Wetang & # 39; ula: I support the handshake for unity

Uhuru said that the signing of the agreement at State House, Nairobi, was part of his resolution to eliminate the corruption in the country, saying that his position on the vice was clear.

"In recent months, we have seen a new intensity in the fight against corruption in Kenya, and frankly, my administration has shown that corruption can not and will not be tolerated," said the president.

Mutual Consent

"In the spirit of the Principles for the Disposal and Transfer of Stolen Property Confiscated in the Proceedings of Corruption of the World Forum on Asset Recovery, returns should be made in a transparent and accountable manner with mutual consent said the new agreement.

To avoid complicating the recovery of badets, the executive said that recovery should follow executable judgments.

It is unclear how many will be targeted in the process, and the names of the account holders have not been revealed, with Nairobi and Geneva still out of control.

After prolonging tax amnesty granted to Kenyans with money abroad for the second time in this year's budget speech, CS Treasury Henry Rotich gave a strong signal that the country would welcome even the money acquired as a product of the transplant.
ALSO READ:

The Swiss leader talks with Uhuru, tour Kakuma

The agreement with Switzerland is another sign that the government is determined to force Kenyans with money hidden in tax havens to to repatriate him without asking questions.

million. Rotich noted that the KRA did not get what it had targeted when the amnesty was first announced and that the amnesty had not existed for two years .

This is because Kenyans with ill-gotten wealth still fear that the Financial Reporting Center will question the source of this wealth. Rotich badured them that under the amnesty, no questions would be asked.

In 2014, the Swiss government announced that it had frozen the accounts of people related to the scandal of Anglo Leasing and that it was repatriating the hidden money in Geneva .

Swiss Ambbadador to Kenya Jacques Pitteloud and then Attorney General Githu Muigai revealed that the process was at an advanced stage.

However, the two officials remained silent about the identity of the people whose accounts had been frozen or the exact amount, but an independent source involved in the process told The Standard that the amount was $ 40,000. about 1 billion shillings.

President Berset said that a memorandum of understanding signed last year on mutual legal badistance was also essential for killing the dragon of corruption.
"The agreement also gives our bodies the investigation and prosecution of new instruments in the fight and helps to fight corruption," Uhuru said, adding that badet recovery discouraged corruption and corruption. that the repatriated funds would be "put to work". our country and our people ".

A steering committee composed of the Office of the President, the Attorney General, the Treasury, the Agency for the Recovery of Assets, the Ethics Agency and the Fight Against Corruption and emissaries or representatives of the partner countries will be created. 19659003] ALSO READ:

Let audit lead to integrity at all stages of procurement