Imagine being rejected by all banks. That all the banks in the country do not want to serve you. That is the reality of Billionaire Samuel James Kinyanjui after banking fraud investigators directed banks to not serve him.
Having made a name for himself in the real estate ventures, the disappointed billionaire decided to go to court to fight the blockade. In his petition, Mr Samuel stated that all banks he tried to approach turned him down since he had been listed as a suspect of conflict under the proceeds of crime and anti-money laundering law, greatly affecting his business.
“I have been to several banks and have been informed that the first respondent has circulated my name under the Proceeds of Crime and Anti-Money Laundering Act and listed me under the anti-money laundering records,” he said in court documents.
According to the Business Daily, this was not the first time Samuel James Kinyanjui was on the wrong side of the anti-money laundering agency. 3 years back, the investigators had told the court that they were suspecting Samuel to be linked with a network of US, Nigeria and the South-Africa persons located in those countries who were then helping move huge sums of money across the world as part of their laundering scheme.
“The businessman has a 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 Sh. 2 billion Edenville Estate in Kiambu and flower firm Torito Roses are some of his best-known investments,” stated the daily.
The billionaire had worked for 50 years to build his empire over the booming real estate in Kenya. Some of his known investments include the Sh. 2 billion Edenville Estate in Kiambu and bloom firm Torito Roses. Stage One of Edenville Estate comprises 345 housing units, the majority of them manors evaluated at between Sh. 14.5 million and Sh. 18.5 million each. Hass Consult, a land director, said in a past report that the units sold out in a record 10 months. Stage Two includes 454 maisonettes, developed at an expense of about Sh. 2 billion, and plans have been set up to develop the third stage on a 36.5-acre of land.