The Asset Recovery Agency (ARA) has exposed two Zambian nationals who are said to be carrying out a scam business in cahoot with their Kenyan counterpart.
The two foreigners, Bupe Chipando and Carrolle Simutengu, are said to be carrying out a gold business which they disguise as timber exports with the destination being Europe.
In court documents seen by this writer, the scam business is disguised so well such that business people in Europe think they are receiving gold only for them to be duped.
This illegal business, however, has been flagged as a money-laundering affair.
To further dupe the government agencies, the suspected fraudsters allegedly use false bank details to claim that they are involved in timber business.
To be specific, the court documents pointed out a Ksh157 million deal that was shared by different individuals involved in the intricate business.
“To facilitate movement of the funds to their personal accounts, they used agreements supported by falsified custom declaration forms purportedly from Kenya Revenue Authority (KRA) as proof that they were engaged in timber importation while we suspect the money was for fake hold trade,” part of their statement read.
Apart from the gold scam, the Zambians are said to be involved in another fraud case where more than Ksh500 million shillings disappeared without a trace believed to have belonged to other foreigners.