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Bitcoin facilitates a Nigerian-Kenyan US$220 million laundering scheme. www.theexchange.africa

Bitcoin facilitates a Nigerian-Kenyan US$220 million laundering scheme

Countries
  • The trio bought bitcoins worth KSh5 billion (US$43 million) in the UAE, the United States and several other European countries, including at Kenya’s crypto exchange platform, BitPesa
  • The three Nigerians were linked to Ksh25.6 billion (US$220 million) moved into Kenya between October and November 2020
  • The Nigerians involved in the scandal are Mr Olubunmi Akinyemiju, Mr Eghosasere Nehikhare and Mr Olufemi Olukunmi Demuren
  • From the US-based exchange Binance, the three bought cryptocurrencies worth $36,353,728 (Sh4.2 billion). They also went ahead to buy bitcoins worth $7,246,582 (Sh839.5 million) from Busha

On April 27, 2022, a report of a multi-billion dollar money-laundering syndicate surfaced from the asset recovery agency drawn from the financial crime and investigation unit, involving top companies and directors from both Nigeria and Kenya.
The culprits are said to have used bitcoin to secrete their transactions. According to a statement filed by European investigators, the Nigerians involved in the …

Kenyan authorities have unearthed an international car smuggling syndicate targeting the East Africa region. Vehicles suspected to be stolen from the UK have been finding their way into Kenya, Uganda and the East Africa region. A multi-agency team involving KRA, National Security Agencies, Interpol, United Kingdom Authorities and other international partners have been working together in investigations to break the syndicate involving the smuggling of stolen high-end vehicles from Europe.

How Kenya busted UK-East Africa car smuggling racket

East Africa

Kenyan authorities have unearthed an international car smuggling racket targeting the East Africa region, one in many that have been busted in recent times.

On May 9, 2019, Customs officers in Mombasa received intelligence to the effect that two 20-foot containers on board a ship sailing to the Port of Mombasa was suspected to be stolen motor vehicles from the United Kingdom.

The containers arrived at the Port of Mombasa on May 11, 2019 aboard MV. MSC Positano from Oman and had not been declared.

Authorities subjected the two containers to x-ray cargo scanning where the images revealed the presence of top of the range motor vehicles.

According to import documents, the Range Rover Sport cars, which were subject of an international motor vehicle crime and smuggling investigation, were on transit to Uganda.

“a multi-agency team led by Customs officials undertook a verification exercise on  May 28,  2019 confirming the …