Deputy President Rigathi Gachagua’s Ksh.202million has been returned to him, after the state had frozen his accounts in 2022 following a pending investigation.
The Assets Recovery Agency (ARA) has said after gathering new evidence, they found out that the money forfeited to the state six months ago was not proceeds of crime and that the deputy president has explained the source and validity of the said money.
The ARA claims that, at the time the high court was issuing its judgement, the new evidence was not presented before the judge since the agency was not in possession of the said evidence
On Wednesday, the court of appeal set aside the forfeiture order issued by the high court last year and also annulled the previous order of the High Court.
Release of Funds
It means that, the funds held in the three accounts of Rafiki Microfinance Bank in the name of Rigathi Gachagua will be released to him.
Funds held in another account belonging to Jeanne Enterprises will also be released.
In addition to that, the funds held at Rafiki Micro finance bank, are held in three different accounts with one holding Ksh.165M, a second account holdsKsh.35M, and the third one holds Ksh.773,228.
The other account registered under Jenne Enterprises holds Ksh.1,138,142.
Mr. Rigathi said last year that one of dreams when he becomes deputy president will be to recover the frozen money after the government questioned the source of Ksh.12.5 billion that passed through his bank accounts.
“And you know if we take over the government …you know this government froze my money when we take over , the money will be unfrozen,” Rigathi Gachagua said.
Gachagua said, the assets will be used to construct infrastructure at his home where men will have a fire side chat with him as women engage.