Kenya clears Flutterwave of money laundering allegation

Kenyan authorities have exonerated Nigerian-owned Flutterwave of accusation of money laundering it leveled against it and the reason for which it shut its operations in the country.

The Kenya’s Assets Recovery Agency accused Flutterwave of using its platform as a conduit to launder money. The authorities however made a volte-face by withdrawing charges against the tech company.

Peoples Gazette, which claimed it sighted the court papers, said the trial judge, E.N Maina, granted the withdrawal request on September 7.

TheCornet recalls that Kenyan authorities alleged it received information in February on a suspected case of money laundering schemes and acquisition of proceeds of crime. Based on the allegation, the authorities froze $56.7million belonging to Flutterwave. The tech company had all along denied involvement in the alleged crime.