Gold scam suspect fails to reclaim luxury cars seized by the State

Businessman Jared Kiasa holding a spear and shield. [James Omoro, Standard]

Fraud suspect and controversial businessman Jared Kiasa Otieno has faced a significant setback in his quest to reclaim two high-end vehicles seized by the Assets Recovery Agency (ARA) as alleged proceeds of crime.

In a judgment delivered on September 20, 2024, a three-judge bench sitting at the Court of Appeal dismissed his appeal to recover one of the vehicles - a Bentley Continental GT, which he claims to have purchased for $453,907 (about Sh58 million at the current exchange rate), and which was registered under Yugni Holdings.
The Bentley was initially confiscated in 2019, following investigations into Otieno's business dealings.