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Pandora Papers Expose Kenyatta's Family Ksh 3.3B Offshore Account

After a battery of over 600 journalists from almost 150 news outlets delved deeper into a trove of 11.9million confidential files, in an exercise that took two years, the International Consortium of Investigative Journalists uncovered the whopping little known billion assets of the Kenyatta family in other countries.

   President Uhuru Kenyatta and his close family have been linked to a newly disclosed declassification that has unearthed how billionaires stockpile their assets in offshore accounts.

  As per records obtained by ICIJ, pres. Uhuru and six family members secretly own a web of offshore companies. The family has been linked to 11 firms one of which is estimated to have an asset value of US$ 30 million (ksh3.31billion).

Following the leaked investigative report, Kenya’s Head of State and his mother are classified as grantees of a secretive foundation in Panama. The scrutiny report also indicates Uhuru’s brother and his two sisters as owners of five offshore companies with assets that worth more than $30million.

 President Kenyatta is said to have always portrayed himself as an enemy of graft. He is on record championing for public declaration on assets owned by public servants. The offshore assets leak has painted him in a bad picture at a time he and his deputy no longer speak the same language on the war against corruption.

The ICIJ says attempts to have Uhuru respond to their inquiries bore no fruits neither did his family. The investigative body however clarifies that the wealth was accrued before Kenyatta became Kenya’s president.

 Varies Foundation was registered in July 2003. with the aid of Othmane Naime, a Union Bancaire Privee lawyer. Reports further indicate that the same law firm helped in managing Muhoho’s foundation.

It is yet another lifestyle audit after Interior CS, Matiang’i red in parliament some of the ass

It is yet another lifestyle audit after Interior CS, Matiang’i read in parliament some of the assets owned by DP William Ruto that are guarded by government-provided security. It comes in the middle of a debate between hustlers and dynasties depending on their financial war chests.  

   The papers have also revealed how former British PM Tony Blair saved thousands in taxes on the purchase of his property. Russian president, Vladimir Putin has also been linked to hidden assets in Monaco. 

Content created and supplied by: Simon (via Opera News )

ICIJ International Consortium of Investigative Journalists Kenya Kenyatta Pandora Papers

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