Samuel James Kinyanjui moved to court in June after banks declined to serve him, citing instructions from banking fraud investigators.
Mr Kinyanjui says in his petition before the court that all banks he had approached turned him away on grounds that he had been listed as a person of conflict under the proceeds of crime and anti-money laundering law.
Mr Kinyanjui first ran into trouble with the anti-money laundering agency three years ago when investigators told the court of his suspected links with a network of US, Nigeria and South Africa-based individuals believed to have been helping him move large sums of money around the world as part of a laundering scheme.
Nairobi tycoon Samuel James Kinyanjui at the centre of a money laundering row has obtained court orders restraining banking fraud unit from sharing his details with the financial institutions.
The businessman moved to court in June after banks declined to serve him, citing instructions from banking fraud investigators.
Mr Kinyanjui says in his petition before the court that all banks he had approached turned him away on grounds that he had been listed as a person of conflict under the proceeds of crime and anti-money laundering law.
“That an interim conservatory order be and is hereby issued restraining the first respondent from circulating the details of the petitioner to the financial institutions and banks under the proceeds of crime and anti-money laundering Act,” ordered Justice Wilfrida Okwany.
On Monday the Banking and Fraud Investigations Unit told justice Okwany that it is yet to file its response because the investigations officer has been away.
The BFIU was given seven days to file its response.
Mr Kinyanjui first ran into trouble with the anti-money laundering agency three years ago when investigators told the court of his suspected links with a network of US, Nigeria and South Africa-based individuals believed to have been helping him move large sums of money around the world as part of a laundering scheme.
The businessman has significant interest in Kenya’s booming real estate sector that is part of the massive business empire he has built over a 50-year period. The Sh2 billion Edenville Estate in Kiambu and flower firm Torito Roses are some of his best known investments.
Phase One of Edenville Estate consists of 345 housing units, most of them villas priced at between Sh14.5 million and Sh18.5 million each.
Mr Kinyanjui now claims that his vast business is suffering because he cannot get support from banks as a consequence of the banking fraud unit’s directive.
He argues that the decision to circulate his name as a money laundering suspect is aimed at stopping him from operating any bank accounts or accessing credit from financial institutions.
The puzzle that remains unresolved, however, is the banking fraud unit’s insistence that he may be involved in an international money laundering racket.
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