The government is currently investigating betting company MozzartBet after the Assets Recovery Agency (ARA) questioned the source of the Ksh640million the company wired to the bank accounts of a business within five months.
According to court documents, ARA has flagged the company's transactions and demandd explanation regarding the source of the funds wired to Kimaco Connections between February and August.
The state agency believes that MozzartBet did not generate the Ksh640 million from the betting services it offers.
The investigations are set to instigate further probing into the connection between money laundering and betting companies in the country.
The ARA has dismissed Mozzart’s initial explanation that it paid the money to acquire software from Kimaco Connections which the latter subcontracted another firm Open Skies Management Services to deliver.
The agency is pushing for the money to be forfeited to the government.
Allegedly, Kimaco Connections owner Peter Kiilu wired Ksh242 million to Open Skies Management Services, owned by Zimbabwean Emmanuel Charumbira and a MozzartBet shareholder.
The state agency is convinced the case of an unclear source in the wiring of cash reflects a money-laundering scheme.
The ARA stated, "That Mr. Peter Kiilu did not avail the agreement or contracts he alluded to in his recorded statement between Mozzartbet Kenya Ltd and Kimaco Connections and Kimaco Connections and Open Skies Management Services.”
According to court filings, MozzartBet used its pay bill number 290059 to wire the millions through another pay bill number 311372 associated with Kimaco Connections to its pay bill 311372.
In one day, the highest amount sent in the scheme was Ksh50 million while the lowest was Ksh1.8 million, raising eyebrows.
The ARA highlighted that MozzartBet suspiciously sent Ksh256 million within five days to Kimaco Connections and the funds were later moved to an account at Co-operative Bank.
Mr Kiilu then moved Ksh150 million to a fixed deposit account and left a balance of Ksh101 million.
Between February and June Kimaco Connections
had received Ksh384 million from MozzartBet, pushing receipts from Mozzartbet to Ksh640 million over five months.
In transfers that were marked by intra-accounts trading, dome of the money was also wired to Pescom and Power Energy.
A prosecutor attached to ARA, Stephen Githinji, said, “Preliminary investigations have established that the respondents through its directors, representatives or agents were involved in a complex scheme of money laundering activities involving several entities and companies.”
According to the state agency, the funds were later distributed to various companies associated with MozzartBet's directors and shareholders.*MozzartBet under investigation for suspicious Sh640mn Wire Transfer*
The government is currently investigating betting company MozzartBet after the Assets Recovery Agency (ARA) questioned the source of the Ksh640million the company wired to the bank accounts of a business within five months.
According to court documents, ARA has flagged the company's transactions and demandd explanation regarding the source of the funds wired to Kimaco Connections between February and August.
The state agency believes that MozzartBet did not generate the Ksh640 million from the betting services it offers.
The investigations are set to instigate further probing into the connection between money laundering and betting companies in the country.
The ARA has dismissed Mozzart’s initial explanation that it paid the money to acquire software from Kimaco Connections which the latter subcontracted another firm Open Skies Management Services to deliver.
The agency is pushing for the money to be forfeited to the government.
Allegedly, Kimaco Connections owner Peter Kiilu wired Ksh242 million to Open Skies Management Services, owned by Zimbabwean Emmanuel Charumbira and a MozzartBet shareholder.
The state agency is convinced the case of an unclear source in the wiring of cash reflects a money-laundering scheme.
The ARA stated, "That Mr. Peter Kiilu did not avail the agreement or contracts he alluded to in his recorded statement between Mozzartbet Kenya Ltd and Kimaco Connections and Kimaco Connections and Open Skies Management Services.”
According to court filings, MozzartBet used its pay bill number 290059 to wire the millions through another pay bill number 311372 associated with Kimaco Connections to its pay bill 311372.
In one day, the highest amount sent in the scheme was Ksh50 million while the lowest was Ksh1.8 million, raising eyebrows.
The ARA highlighted that MozzartBet suspiciously sent Ksh256 million within five days to Kimaco Connections and the funds were later moved to an account at Co-operative Bank.
Mr Kiilu then moved Ksh150 million to a fixed deposit account and left a balance of Ksh101 million.
Between February and June Kimaco Connections
had received Ksh384 million from MozzartBet, pushing receipts from Mozzartbet to Ksh640 million over five months.
In transfers that were marked by intra-accounts trading, dome of the money was also wired to Pescom and Power Energy.
A prosecutor attached to ARA, Stephen Githinji, said, “Preliminary investigations have established that the respondents through its directors, representatives or agents were involved in a complex scheme of money laundering activities involving several entities and companies.”
According to the state agency, the funds were later distributed to various companies associated with MozzartBet's directors and shareholders.*MozzartBet under investigation for suspicious Sh640mn Wire Transfer*
The government is currently investigating betting company MozzartBet after the Assets Recovery Agency (ARA) questioned the source of the Ksh640million the company wired to the bank accounts of a business within five months.
According to court documents, ARA has flagged the company's transactions and demandd explanation regarding the source of the funds wired to Kimaco Connections between February and August.
The state agency believes that MozzartBet did not generate the Ksh640 million from the betting services it offers.
The investigations are set to instigate further probing into the connection between money laundering and betting companies in the country.
The ARA has dismissed Mozzart’s initial explanation that it paid the money to acquire software from Kimaco Connections which the latter subcontracted another firm Open Skies Management Services to deliver.
The agency is pushing for the money to be forfeited to the government.
Allegedly, Kimaco Connections owner Peter Kiilu wired Ksh242 million to Open Skies Management Services, owned by Zimbabwean Emmanuel Charumbira and a MozzartBet shareholder.
The state agency is convinced the case of an unclear source in the wiring of cash reflects a money-laundering scheme.
The ARA stated, "That Mr. Peter Kiilu did not avail the agreement or contracts he alluded to in his recorded statement between Mozzartbet Kenya Ltd and Kimaco Connections and Kimaco Connections and Open Skies Management Services.”
According to court filings, MozzartBet used its pay bill number 290059 to wire the millions through another pay bill number 311372 associated with Kimaco Connections to its pay bill 311372.
In one day, the highest amount sent in the scheme was Ksh50 million while the lowest was Ksh1.8 million, raising eyebrows.
The ARA highlighted that MozzartBet suspiciously sent Ksh256 million within five days to Kimaco Connections and the funds were later moved to an account at Co-operative Bank.
Mr Kiilu then moved Ksh150 million to a fixed deposit account and left a balance of Ksh101 million.
Between February and June Kimaco Connections
had received Ksh384 million from MozzartBet, pushing receipts from Mozzartbet to Ksh640 million over five months.
In transfers that were marked by intra-accounts trading, dome of the money was also wired to Pescom and Power Energy.
A prosecutor attached to ARA, Stephen Githinji, said, “Preliminary investigations have established that the respondents through its directors, representatives or agents were involved in a complex scheme of money laundering activities involving several entities and companies.”
According to the state agency, the funds were later distributed to various companies associated with MozzartBet's directors and shareholders.
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