High court freezes 400.6M in banks and M-pesa paybills linked to flutterwave
High court freezes 400.6M in banks and M- pesa paybills linked to flutterwave, which is nigerian company linked to card fraud and Money Laundry.
It is owned by Olugbenga, Adeleke , Iynoluwa , and Flutterwave Inc which is registered in the United States.
This firm, flutterwave was founded by Olugbenga in the year 2018
The 400.6M were held in two banks namely; UBA Bank and access bank.
The 19 paybill numbers from safaricom were frozen after the Assets recovery agency petitioned to bar the services being conducted by the paybills as they await trial.
Reports from media stated that,”The amounts frozen include Sh110 million in UBA account, another US $ 556,622 (Sh66.7 million), Sh29.1 million in Access Bank and Sh68 million, Sh112 million and Sh14.5 million in a total of 19 Safaricom Paybill numbers.”
The high court led by Justice Nzioka prohibitied the transfer of money in or out of the banks since the petition by Assets recovery agency is pending.
Justice Nzioka stated,”A preservation order be and is hereby issued prohibiting 1st respondent or his agents or representative from transacting, withdrawing, transferring, using any other dealings in respect to the money held in the account.”
This comes after 6.2 billion held in 62 bank accounts also linked to flutterwave initiated an arrest of four Kenyans. The accounts were suspected to launder money and card fraud.
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