Kenyan Man Loses $34 Million and Luxury Cars After Historic High Court Ruling

• The Kenyan High Court has directed the confiscation of approximately KSh 34 million kept in a bank account along with two luxurious cars belonging to Anthony Odiero.
• The High Court directed the confiscation of a Range Rover (KDE 369G) and a Mercedes-Benz E250 (KCN 880Q).
• The High Court ordered the National Transport and Safety Authority (NTSA) to hand over ownership to theAssets Recovery Agency.

Elijah Ntongai, who works for .co.ke as a journalist, boasts over four years of experience in researching and reporting on finance, business, and technology. He offers valuable perspectives on both Kenyan and international developments.

The Kenyan High Court has directed the confiscation of assets such as money in a bank account and expensive cars following a decision that these possessions were obtained via illicit funds.

The verdict was announced online on December 9, 2024, by Judge P.J. Otieno from the Anti-Corruption and Economic Crimes Division.

This decision arises from a civil lawsuit initiated by the Assets Recovery Agency (ARA) against Anthony Kepha Odiero, aiming to retrieve funds and assets believed to be connected with money laundering and corruption activities.

What was the decision of the High Court?

The court ruled in its decision that the amount of USD 270,888.47 (approximately KSh 34 million) kept in account number 02006230139300 with the National Bank of Kenya Limited located in Odiero's name was acquired unlawfully.

Justice Otieno also declared,

IT IS ORDERED THAT The National Bank of Kenya Limited shall transfer the specified amount of USD 270,888.47 from account number 02006230139300 belonging to Anthony Kepha Odiero to the dollar account number 1292910038 maintained at the Kenya Commercial Bank KICC branch under the name of the Assets Recovery Agency.

Furthermore, the court ruled for the confiscation of two high-end automobiles listed under Odiero's ownership: a Range Rover bearing the registration number KDE 369G and a Mercedes-Benz E250 identified by the registration number KCN 880Q.

The cars, considered as proceeds from criminal activities, will now be handed over to the ARA representing the Kenyan government. Justice Otieno further instructed the Director-General of NTSA to register these automobiles under the Asset Recovery Agency’s name and provide new registration documents.

What reasons might lead to Odiero losing his wealth and money?

The lawsuit was initially submitted on November 17, 2023, based on the Proceeds of Crime and Anti-Money Laundering Act as well as the Civil Procedure Rules. The ARA contended that the money and properties were obtained via unlawful means and thus should be confiscated by the government.

The court determined that there was enough proof showing Odiero couldn’t justify his substantial riches, which sparked concerns about potential money laundering and corruption. As a result, the court authorized the government to take possession of and reclaim these assets.

The organization has been vigorously investigating instances of unidentified riches, mainly focusing on people associated with governmental misconduct and financial offenses.