Millions of pounds that were seized in Jersey from money laundering are being returned to Kenya in a world first. The £3million was confiscated in 2016 following the conviction of Jersey-registered company Windward Trading Ltd. for money laundering offenses. The money originated in Kenya, and was being fed through the Jersey company.
Despite the 2016 conviction of the company, two individuals from Kenya linked to the company are still awaiting trial.
Now, Jersey has agreed to send the money back after Her Majesty’s Attorney General for Jersey signed an Asset Recovery Agreement (ARA) with the Kenyan government.
The money will be used to help Kenya with their response to the Covid-19 pandemic, including buying medical equipment.
Jersey’s Attorney General, Mark Temple QC, said: “I am delighted that we have concluded this agreement to return these funds to Kenya to support their efforts in combating COVID-19.
“Corruption is not a victimless crime. It has both direct and indirect consequences for people living in countries where corrupt practices have taken place.
“The signing of this agreement today shows that Jersey does not tolerate financial crime and that our officers will confiscate monies associated with corruption and ensure that such funds are returned for the benefit of the people who have suffered from the effects of corruption.
“We have already prosecuted the Jersey company involved for money laundering offenses, and continue to support the ongoing extradition proceedings by the prosecuting authority in Kenya to bring the individuals responsible to justice.”
March 31, 2022 Published by The Gracechurch Financial Crime Prevention.