Former Nairobi Finance chief ordered to forfeit Sh300mn unexplained assets

JIMMY KIAMBA IN COURT - Former Nairobi Finance chief ordered to forfeit Sh300mn unexplained assets
Kiamba’s (pictured) Runda home could be auctioned should he fail to surrender the unexplained wealth/FILE – CFM

NAIROBI, Kenya, Jul 24 – Former Nairobi County Chief Finance Officer Jimmy Kiamba was Wednesday ordered to forfeit Sh300 million of unexplained assets to the State.

Lady Justice Hedwig Ong’udi ordered the surrender of the assets which include Sh120 million banked locally and high-end properties within the city.

Kiamba’s Runda home could be auctioned should he fail to surrender the unexplained wealth.

The court established Sh317.6 million cash deposits as monies that constitute unexplained assets.

“I therefore declare that the total sum of the, money indicated to be unexplained assets,” Lady Justice ruled Ogundi.

An investigating officer who testified in court said Kiamba used his staff including a driver attached to him to make cash deposits that are believed to be proceeds of graft.

EACC had asked the court to order the former finance executive to surrender assets totaling Sh872 million.

Kiamba defended his wealth saying he accumulated his assets from his employment and businesses ranging from farming, hotel business, transport and rental.

He told the court he made Sh21.9 million from cattle keeping, Sh17 million from wheat farming and Sh12.4 million from maize farming.

According to documents supplied in court, Kiamba law firm earned him Sh300,000 with his landed properties valued at Sh35 million.

The court established that the assets held Kiamba far exceeded what he could account for therefore declaring them as unexplained assets under Section 2 of the Anti-Corruption and Economic Crimes Act.

Author: worldwidenewscast

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