Corrupt people in Kenya are extremely clever.They hide money in such a way that you can’t trace it even if you have a PhD in corruption.
These guys know that you cannot DEPOSIT or WITHDRAW above Ksh1 million via a bank without proper reason, the Looters of huge amount engages in what has come to be known as Money Laundering—or simply, cleansing of the dirty monies.
This is how they manage,
Because money must be cleaned, they have to cheat Central Bank, by investing.
But investing legally will attract the taxman and raise eyebrows with the banks.So, they deposit huge amount of money in cottage and heavy industries that manufacture they goods they need.
If they are building high-rise skyscrapers, they drop in cash, tens of millions to the metal producers, steel makers, iron sheet makers, cement makers and stuff like that to the companies, and then agree to be collecting the materials as they wish-which is a good business to the profit making capitalist. Then they pay in cash, every day, the human resource working on site.And that is how buildings, flats, and parks get their way into the sky.
And that’s clean money, attracting huge rental incomes. From there, tax man can charge his pea nuts, and mind his own business.
Some, straight away run to Westlands , and seal deals with Sikhs and Mhindis, to sell to them a fleet of cars in their yards, on cash basis. They jump into the idea like a hot ugali. The fleet of top of the range guzzlers are taken to Ngong Road for sale, or Kiambu Road, from where whether you buy or not, nothing is lost. Money is being laundered. And when it is, you are finally vindicated.
Another way they launder is, they set businesses like boutique where they pump the cash into the business. Then they declare their loot as profit.
