The story involving businessman Jaswant Singh Rai’s alleged abduction, money laundering allegations, political ties, and scandals within his sugar empire has taken a new twist.
Nurdin Akasha, a notorious member of the Akasha crime family, has fled Kenya moments after the arrest of Victoria Commercial Bank (VCB) Chief Executive Officer Yogesh Pattni over suspicions of illicit business dealings with Jaswant Singh Rai, who owns 40% of his bank through proxies.
Akasha, also known as “Nurdin Tinta Akasha”, is a son of Ibrahim Akasha Abdalla, the late patriarch of the Akasha crime family.
He is believed to have fled Kenya shortly after Yogesh Pattni’s arrest on August 28, 2023.
Akasha, whose whereabouts are currently unknown, is also wanted by the authorities for his role in the money laundering and arms dealing scandals that rocked the country during former President Uhuru Kenyatta’s tenure.
Reliable sources who spoke to cnyakundi.com informed us that Nurdin Akasha was a close confidant of Yogesh Pattni, who facilitated money laundering and arms dealing activities using VCB.
Nurdin Akasha used his connections with Yogesh Pattni to transfer large sums of money from VCB accounts to offshore accounts in Dubai, Mauritius, and other countries.
The money was then used to finance illegal activities such as narcotics trafficking and political campaigns.
Nurdin Akasha fears that Yogesh Pattni’s arrest could spell doom for him, as he could be next on the list of targets for the Directorate of Criminal Investigations (DCI).
With Yogesh Pattni’s potential to disclose information during questioning or under duress, there is a risk of implicating Akasha in the criminal activities.
To preempt this, Akasha chose to flee Kenya to ensure his safety.
Yogesh Pattni Arrest
Yogesh Pattni was arrested on August 28, 2023, by the DCI’s banking fraud unit, raising concerns about State-sponsored gangland-style kidnappings.
Reports indicate that he was taken by sleuths from the anti-banking fraud unit, from his office at Two Rivers Mall on Monday morning.
For the better part of the day, Yogesh Pattni was grilled at the Kiambu Road-based institution, his lawyer Gibson Kimani confirmed.
Yogesh Pattni is under suspicion for his involvement in enabling money laundering and arms dealing through VCB.
He is associated with Jaswant Singh Rai, who is also suspected of exploiting VCB as a channel to launder funds derived from his sugar business and other enterprises.
Yogesh Pattni faces allegations of utilizing VCB finances to procure both domestic and international properties and assets.
As part of the ongoing investigation, the DCI has confiscated numerous documents and records from the offices and residences of VCB and Rai.
Detectives have also taken measures to freeze multiple bank accounts owned by Rai, Pattni, Nurdin Akasha, and individuals associated with them.
The reason for Yogesh Pattni’s arrest was not immediately clear, but it was suspected to be related to the Mumias Sugar saga.
The Mumias Sugar Saga
Mumias Sugar, once Kenya’s largest sugar producer, was placed under receivership by the Kenya Commercial Bank (KCB) in 2019 to protect its assets and maintain operations.
The miller owed KCB and several other creditors over 29 billion shillings ($264 million).
KCB placed the miller under the hands of Ponangipalli Ramana Rao in a resuscitation plan.
Documents showed how some of the Mumias assets that had secured loans from Eco Bank and French Development Agency Proparco moved between the two banks to Victoria Commercial Bank in a suspicious transaction.
The two assets, co-generation plant and Ethanol valued at 1.9 billion shillings ($17 million) and 4 billion shillings ($36 million) respectively, later ended up with Dubai-based firm Vartox Resources Inc.
In transferring the assets, the parties ignored an inter-lenders agreement signed on September 27, 2010.
The deal detailed exclusion of the two syndicated assets from the existing lender security.
The agreement required each lender to notify other parties of ‘any modification, termination, amendment and transfer of any security.’
Contrary to the agreement, however, Proparco and Ecobank went ahead to assign their right to Victoria Commercial Bank on October 4, 2021, without notice to KCB, Barclays Bank or Stanbic.
Interestingly, the transactions happened when the receiver-manager was engaged in the leasing process for the survival of the sugar firm.
Yogesh Pattni’s arrest and Nurdin’s escape have prompted inquiries into the depth of their engagement in money laundering and arms trade activities, as well as their connections to the sugar sector and the political upper echelon.
Jaswant Singh Rai Abduction
Rai was allegedly kidnapped on August 25, 2023, near Wood Avenue, Kilimani, by unknown assailants.
The billionaire’s disappearance occurred during an ambush of his Toyota LC200 at the junction of Wood Avenue in Kilimani, across from Kenwood Apartments, around 4pm.
The assailants, driving a grey double-cab pick-up, intercepted his vehicle.
CCTV footage captured the incident, revealing four individuals exiting the pick-up and forcibly extracting the occupants of the billionaire’s car. Subsequently, they sped away in the direction of Galana Road.
The billionaire’s car was left running on the road.
Later, Kilimani Police Station received information about an abandoned vehicle matching the description and towed it to the station.
The vehicle had minor damage on its front right side, where contact had been made with the pick-up.
An official report was filed, designated as OB number 40/25/8/2023.
The following day, a woman identifying herself as Mr. Rai’s daughter, accompanied by legal representation, visited the station to report her father’s disappearance as a missing person.
This report was documented under OB number 21/26/08/2023.
The woman also confirmed the ownership of the towed vehicle.
Meanwhile, the Director of Criminal Investigations, Mr. Amin Mohamed, stated that their department was not holding Mr. Rai and lacked a detention facility.
Nonetheless, he affirmed that the situation was subject to investigation.
Rai was released two days later, on August 27, 2023, by those who had allegedly abducted him.
He was briefly questioned by the police and then allowed to seek medical attention.
He did not reveal any details about his captors or their motives.
Some have suggested that Rai’s abduction could be a diversionary tactic to distract from his involvement in money laundering and other crimes related to his sugar empire and his association with the Kenyatta family.
Money Laundering Scheme
Rai and Pattni have now both been questioned by the DCI on money laundering-related issues.
The heart of this investigation revolves around a sophisticated method of transferring substantial sums of money through VCB.
The Central Bank of Kenya is also conducting a parallel investigation into this matter.
The modus operandi is as follows: significant amounts of money are siphoned from VCB bank accounts and routed to distant offshore destinations such as Dubai and Mauritius.
Once there, these funds are employed to facilitate illicit activities, including arms trade, narcotics distribution, and even bolstering political campaigns.
The primary focus is on Rai, who is suspected of exploiting VCB as a conduit for disguising the origins of funds generated from his sugar business and other business ventures.
He further faces allegations of evading taxes and engaging in bribery to secure preferential treatment in contractual matters.
Similarly, Pattni, occupying a high-ranking position within VCB, is suspected of playing a pivotal role in facilitating the mechanics of the money laundering operation through his influential position.
There are allegations that he has utilized VCB’s funds to acquire real estate assets both domestically and internationally.
The DCI has seized pertinent documents from Rai’s premises and VCB’s offices, a move aimed at aiding their meticulous investigation into this intricate scheme.
To ensure a halt in the progress of potentially unlawful activities, the DCI is considering taking the step of freezing numerous bank accounts associated with Rai, Pattni, and even Nurdin Akasha, along with their associates.
This decisive action underscores the seriousness of the investigation as authorities work assiduously to unearth the covert maneuvers that may be transpiring behind the scenes.
Political Connections
When Jaswant Singh Rai and Yogesh Pattni were both recently held for hours by the Directorate of Criminal Investigations (DCI) at a Nairobi airport on money laundering-related issues, Rai was asked about his links to Muhoho Kenyatta, the brother of former president Uhuru Kenyatta, and his alleged financing of opposition figures, including Raila Odinga’s presidential bid in the 2022 general elections.
Rai is said to have used his influence with Muhoho Kenyatta to secure lucrative deals and contracts from the government during Uhuru Kenyatta’s regime.
He is also said to have benefited from protection and immunity from prosecution for his illegal activities.
Sugar Scandals
Rai has a history of controversies and scandals involving his sugar business.
He owns several sugar companies in Kenya and Uganda, including West Kenya Sugar Company, Sukari Industries, Menengai Oil Refineries, Kinyara Sugar Works in Uganda, and Rai Paper Mills.
During the tenure of former President Uhuru Kenyatta, Rai faced allegations of importing mercury-poisoned sugar from Brazil and Dubai.
The imported sugar was discovered to contain elevated levels of mercury, copper, lead, arsenic, and other harmful substances that pose significant health risks to consumers.
Rai was accused of collaborating with government officials and agencies to bypass inspection and clearance protocols at the port of entry.
He was charged with repackaging and relabeling the sugar as domestically produced, deceiving unsuspecting customers.
Rai’s business practices have also been marred by accusations of exploiting farmers and manipulating sugar prices.
These allegations encompass delaying payments to farmers, inadequate compensation, unjust deductions, and fees.
He has often been accused of stockpiling sugar to create artificial shortages and inflate prices.
Rai’s operations have encountered resistance from industry players like the state-owned Kenya Sugar Board (KSB) and the Kenya Sugar Research Foundation (KESREF).
Illegal sugar imports from neighboring countries, such as Uganda and Tanzania, have negatively impacted Rai’s business.
He once faced accusations of involvement in smuggling and the dumping of sugar in the Kenyan market, resulting in unfair competition and harm to local producers.
Environmental degradation and human rights violations have also been linked to Rai’s sugar business.
Accusations include polluting water sources, deforestation, displacing communities, and mistreating workers in his sugar plantations and factories.
Ruto Talks Tough
President William Ruto, on Sunday, warned private millers that he would not relent in regulating the sugar industry to revive government-owned companies.
While speaking during the interdenominational thanksgiving and prayer service at Uwanja Ndege Grounds in Bungoma County, the visibly agitated Head of State vowed that he would not sit back and watch a few people exploit Kenyans economically.
He specifically singled out Jaswant Singh Rai.
Rai Group controls more than 40 percent of the country’s sugar production and market supplies.
“Do not be worried, I am alert to make sure everything will be okay. There is no one who will meddle,” the President assured residents of reviving the sugar industry.
“Do not be worried about someone coming to talk to us. Someone was telling me Rai. Who is Rai? No, that is not possible,” Ruto stated.
The President wondered why privately owned sugar companies were generating more profit than their public competitors despite the government pumping a lot of money into the latter.
He says that he will ensure that farmers get fair prices for their produce, consumers get quality and affordable sugar, and the industry is free from corruption and cartels.
Rai-Pattni-Akasha nexus
The Rai-Pattni-Akasha nexus is a complex web of money laundering, political manipulation, and corruption that involves some of the most powerful and influential figures in Kenya.
The arrest of Yogesh Pattni, the CEO of Victoria Commercial Bank, has exposed the illicit business dealings between him, Jaswant Singh Rai, the owner of a sugar empire, and Nurdin Akasha, a notorious member of the Akasha crime family.
The saga also reveals how Mumias Sugar, once Kenya’s largest sugar producer, was brought to its knees by the machinations of these individuals and their associates.
The investigation by DCI is still ongoing, and more revelations are expected to emerge in the coming days.
The fate of Yogesh Pattni, Jaswant Singh Rai, Nurdin Akasha, and others involved in this scandal hangs in the balance, as they face possible charges of money laundering, arms dealing, fraud, tax evasion, and other crimes.
The case has also raised questions about the role of banks, regulators, and law enforcement agencies in curbing financial crimes and ensuring accountability in Kenya.
Ultimately, the Rai-Pattni-Akasha nexus is a story that exposes the dark underbelly of Kenya’s political and economic system.
The post Nurdin “Tinta” Akasha flees Kenya moments after money laundering associate Yogesh Pattni was arrested over criminal dealings with Jaswant Singh Rai appeared first on Cyprian Nyakundi.