Assets Recovery Agency (ARA) says Mathira MP Rigathi Gachagua is yet to explain any legitimate origin and source of Sh200 million found in his three accounts.
Through investigating Officer Fredrick Musyoki, ARA claims the averments by the MP that he moved Sh200 million back and forth in his three accounts at Rafiki Microfinance Bank over a period of seven years does not explain any legitimate origin and source of the said funds.
Musyoki said there is no linkage between the alleged loan guarantee and the funds in issue. Gachagua had claimed that the Sh200 million had been rotating between three accounts for the last seven years and upon maturing – quarterly — the principal amount plus interest earned are rolled back to the savings account, at his request.
“My revolving fixed fund of Sh200 million has been subjected to this movement for the last seven years.
Therefore, it is incorrect to purport that my accounts transacted a total of Sh12.5 billion,” he claimed.
Legitimate business ARA however claims the allegation that MP is doing legitimate business and the funds in issue are obtained from legitimate businesses is incorrect, deceitful and a ploy to disguise, conceal and hide the source of the said funds and classical scheme of money laundering.
Gachagua also sought to cross-examine the investigating officer on the contents of his affidavit, an application that the officer has opposed. Musyoki claims that the MP has not indicated which specific paragraph of his affidavit that he does not understand and wishes to cross-examine him.
“On February 22, all parties by consent agreed this matter be heard by way of affidavits and highlighting of
written submissions. The respondent (Gachagua) has not demonstrated any special circumstances that warrant this court to lift or vary its earlier directions issued on the basis of the consent of the parties,” he said in the further supplementary affidavit.
The investigating officer further contends that Gachagua has not filed any formal application seeking for his cross-examination and is engaging in delaying tactics so as to frustrate the expeditious conclusion of the matter.
The High Court has since frozen the more than Sh200 million belonging to he MP