In Kagoda, dead
men tell no tales
TWO business tycoons linked to the external payment arrears (EPA) account scandal through the infamous Kagoda Agriculture Limited company are reportedly blaming the theft of more than 40bn/- from the Bank of Tanzania to a dead man, in an elaborate ploy to avoid criminal charges.
It has now been revealed that a prominent businessman based in Dar es Salaam told EPA investigators that his deceased father was the actual beneficiary of over $30.8m (approx. 40bn/-) fraudulently paid to Kagoda from the key BoT account.
In doing so, the tycoon accepted financial liability and returned all the stolen funds to the government before the October 31, in an attempt to avoid criminal charges.
’’The businessman agreed to pay back the stolen EPA funds, but sought to avoid criminal liability by claiming that it was actually his deceased father who stole the funds,’’ said a source close to the EPA investigation.
He added: ’’He (the business tycoon) claimed he had nothing to do with the Kagoda company, but agreed to return all money purportedly stolen by his dead father. This is, of course, all part of an elaborate trick to try to avoid criminal charges.’’
Sources say the businessman who claimed the Kagoda funds were stolen by his deceased father was actually used to camouflage the involvement of another prominent business tycoon with vast interests, who was the real architect of the looting.
’’Some sort of an agreement was reached between these two businessmen to try and conceal the identity of the man behind the Kagoda company, who is a well-known public figure,’’ said another well-placed source.
Government officials said aides to the businessman who masterminded the massive looting of funds from the BoT through Kagoda had scrambled to surrender billions of shillings to the government on behalf of the shell company to avert the case from going to the courts for prosecution.
In the final few days leading up to the October 31 deadline, aides to the Kagoda businessman were seen carrying suitcases full of cash to a commercial bank located along Samora Avenue as they rushed to return the stolen funds to the government.
’’Actually, the businessman who was used to camouflage the involvement of the Kagoda architect panicked and almost fled the country recently at the prospect of going to jail. He now appears to have somewhat relaxed after all the stolen money was returned to the government by the Kagoda man,’’ said one of our sources.
So far, a total of 20 suspects have been arraigned at the Kisutu Resident Magistrate’s Court in Dar es Salaam in connection with the EPA scandal.
They include business tycoon Jeetu Patel, who faces multiple counts of conspiracy, fraud and theft charges in the EPA scam in four separate criminal cases before the court.
Jeetu Patel has reportedly already returned more than 35bn/- to the government from the EPA account, but was still unable to avoid criminal charges.
However, the powerful forces behind the Kagoda company who are known to be well-connected individuals, remain conspicuously missing from all the high profile action in the court.
’’It is true that this businessman´s father died abroad. However, the real beneficiary of the Kagoda funds is trying to use a dead man to avoid criminal charges,’’ said another source familiar with the so-called dead-man ploy.
He added: ’’After all, investigators cannot question a corpse, can they?’’
It has now been revealed that a prominent businessman based in Dar es Salaam told EPA investigators that his deceased father was the actual beneficiary of over $30.8m (approx. 40bn/-) fraudulently paid to Kagoda from the key BoT account.
In doing so, the tycoon accepted financial liability and returned all the stolen funds to the government before the October 31, in an attempt to avoid criminal charges.
’’The businessman agreed to pay back the stolen EPA funds, but sought to avoid criminal liability by claiming that it was actually his deceased father who stole the funds,’’ said a source close to the EPA investigation.
He added: ’’He (the business tycoon) claimed he had nothing to do with the Kagoda company, but agreed to return all money purportedly stolen by his dead father. This is, of course, all part of an elaborate trick to try to avoid criminal charges.’’
Sources say the businessman who claimed the Kagoda funds were stolen by his deceased father was actually used to camouflage the involvement of another prominent business tycoon with vast interests, who was the real architect of the looting.
’’Some sort of an agreement was reached between these two businessmen to try and conceal the identity of the man behind the Kagoda company, who is a well-known public figure,’’ said another well-placed source.
Government officials said aides to the businessman who masterminded the massive looting of funds from the BoT through Kagoda had scrambled to surrender billions of shillings to the government on behalf of the shell company to avert the case from going to the courts for prosecution.
In the final few days leading up to the October 31 deadline, aides to the Kagoda businessman were seen carrying suitcases full of cash to a commercial bank located along Samora Avenue as they rushed to return the stolen funds to the government.
’’Actually, the businessman who was used to camouflage the involvement of the Kagoda architect panicked and almost fled the country recently at the prospect of going to jail. He now appears to have somewhat relaxed after all the stolen money was returned to the government by the Kagoda man,’’ said one of our sources.
So far, a total of 20 suspects have been arraigned at the Kisutu Resident Magistrate’s Court in Dar es Salaam in connection with the EPA scandal.
They include business tycoon Jeetu Patel, who faces multiple counts of conspiracy, fraud and theft charges in the EPA scam in four separate criminal cases before the court.
Jeetu Patel has reportedly already returned more than 35bn/- to the government from the EPA account, but was still unable to avoid criminal charges.
However, the powerful forces behind the Kagoda company who are known to be well-connected individuals, remain conspicuously missing from all the high profile action in the court.
’’It is true that this businessman´s father died abroad. However, the real beneficiary of the Kagoda funds is trying to use a dead man to avoid criminal charges,’’ said another source familiar with the so-called dead-man ploy.
He added: ’’After all, investigators cannot question a corpse, can they?’’
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