Agency Says MP Rigathi Gachagua Cannot Explain Source of Sh200 Million in His Bank Accounts

Assets Recovery Agency (ARA) says Mathira MP Rigathi Gachagua cannot explain the source of Sh200 million in his three bank accounts at Rafiki Microfinance Bank.

One of the accounts is holding Sh165 million while the other two have Sh35 million and Sh773,228 respectively. ARA which is seeking to have the funds forfeited to the State on grounds that they were acquired fraudulently dismissed Gachagua’s claims that he obtained the money through loans.

The recovery agency claims that a total of Sh7.3 billion and Sh12.5 billion in debit and credit transactions respectively were made through the three accounts between 2013 and 2020.

“Submissions by the respondents do not explain any legitimate source of the funds in issue and there is no linkage between the alleged “loans” acquired or guaranteed for the funds in issue. The alleged “loans” are just decoys of money laundering to mislead this honorable court,” ARA says in court documents.

ARA further says that there are no documents to support Gachagua’s claims that he and businesswoman Anne Kimemia, who is the second respondent in the case, transferred funds from companies to their accounts for trade.

“This is because the companies are legal entities that can enter into agreements with other entities including the shareholders or directors and there is no existence of such agreements between the respondents and the companies,” ARA adds.

While Gachagua insists the case is part of a scheme meant to harass him over his political stand, ARA has brushed off these allegations.

“We submit that the issue before this Honorable Court is the legitimacy of the funds in issue and whether the same can be forfeited to the State, the issue is not about his political inclination or association," ARA noted.