WHAT CAN WE LEARN FROM THE DISMISSAL OF 3 UNEXPLAINED WEALTH ORDERS?

On 9 April, Corker Bining published a post following the recently-announced decision of the High Court in London dismissing 3 UWO, in the first successful appeal against such orders since their inception in January 2018.  It warns that, as with any judgment, the facts involved limit the breadth of the conclusions which can be drawn, and distinguishes this case with a previous unsuccessful attempt to have a UWO dismissed.  In the post an important point is stressed, one that is often overlooked or mistaken – UWO are not an end in themselves; they are intended to establish the source of assets, where there is sufficient suspicion to warrant an explanation, with a view to civil recovery where the explanation is insufficient.  Re any possible appeal by the NCA, the post also comments upon criticism made by the judge of the performance of the NCA.

https://www.corkerbinning.com/nca-v-baker-ors/

 

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BRITISH MANAGERS OF UK AID-FUNDED KENYAN FIRM ACCUSED OF QUESTIONABLE BUSINESS PRACTICES

 

On 9 April, Ekklesia reported that a BBC documentary has reported on concerns of alleged fraud, bribery and other highly questionable business practices by 2 British managers appointed by a UK aid-backed private equity fund to run its investee Kenyan company, Spencon – once the largest infrastructure development company in East Africa, but now bankrupt.

http://www.ekklesia.co.uk/node/29493

https://www.youtube.com/watch?v=bQinLY0m_jg&feature=youtu.be&mc_cid=1c275ff064&mc_eid=939e15fe6d

 

 

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CONGO PRESIDENT’S HEIR APPARENT ARRESTED IN CORRUPTION PROBE

On 9 April, BNN Bloomberg reported that Vital Kamerhe, the chief of staff and potential successor to DRC President Felix Tshisekedi is under provisional arrest as part of a corruption investigation, fracturing his administration and throwing the country’s political class into turmoil.

https://www.bnnbloomberg.ca/congo-president-s-heir-apparent-arrested-in-corruption-probe-1.1419804

 

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KENYA: ABSA BANK WORKS WITH CENTRAL BANK TO RESOLVE LICENCE SUSPENSION

On 8 April, The Standard and others reported on the suspension by the Central Bank of Kenya of the licence of Absa Bank, formerly Barclays Bank of Kenya.  The central bank ordered the bank to stop foreign exchange dealing between April 9 and April 15 for failing to observe AML rules on some trades.

https://www.standardmedia.co.ke/article/2001367491/absa-bank-works-with-cbk-to-resolve-license-suspension

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