Billionaire tycoon and liquor mogul Humphrey Kariuki suffered a serios blow as the High Court proceeded to freeze the bank accounts of three companies under his name
This was the decision taken by Anti-corruption judge John Onyiego to freeze the funds of the Africa Spirits Limited, and WOW Beverages and Wines Limited as per the instructions by the Kenya Revenue Authority.
The order was to serve all companies with court documents within a period of three days.x
Nevertheless, KRA proceeded to sue the three companies after it made the discovery that ASL had been supplying alcoholic beverages having counterfeit stamps to bar the authority from collecting its revenues amounting to Sh 3 billion shillings.
According to court documents, the companies cannot account for the way they have been manufacturing and supplying alcoholic beverages, hence evading payment of taxes.
“ASL has not been remitting excise duty and paying VAT at the rate required, taking into account the level of production of ethyl alcoholic spirits and the counterfeit excise stamps,”
The case is poised for hearing on the 8th of March.