The story of the little known Billionaire Samuel James Kinyanjui is one that cannot go untold. The tycoon, who owns the Ksh2 billion Edenville estate in Kiambu, found himself between a rock and hard place when all banks gave him a wide berth. This was after his name was listed under the Proceeds of Crime and Anti Money Laundering Act by the government.
Here is his story as told by WoK.
Background
Samuel James Kinyanjui is a renowned businessman with interests in the real estate sector. Some of his major investments include a multimillion flower firm dubbed ‘Torito Roses’ and the Ksh2 billion Edenville Estate in Kiambu. According to Business Daily, Phase one of Edenville Estate consists of 345 housing units, most of which are villas priced between Ksh14.5 million and Ksh18.5 million each.
The units in phase one were sold in a record 10 months as reported by Hass Consult. Phase two of the project consists of 454 maisonettes constructed at a cost of Ksh2 billion. The billionaire reportedly has plans to kick start the third phase which will sit on a 36.5 acre piece of land.
Troubles with the government and Banks
The billionaire first ran into trouble with the anti-money laundering agency in 2019 after investigators linked him to a network of individuals based in Nigeria, South Africa and America involved in a money laundering syndicate. His name was circulated by the agency as a suspect in money laundering prompting banks to deny him services.
He could not operate any bank accounts or access credit loans from any financial institutions. The billionaire moved to court in a bid to clear his name.
“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 told the court.
He won the case and obtained court orders that restrained the Banking Fraud Unit from sharing his details with banks and other financial institutions. In his ruling, Justice Wilfrida Okwany ordered;
“That an interim conservatory order be and is hereby issued restraining the first respondent from circulating the details of the petitioner to the financial institutions and banks under the proceeds of crime and anti-money laundering act.”
