DeepInYourMind
Elder Lister
He even knows what articles were written better than the actual journalists
Hustler fact checking the FINANCIAL TIMES magazine
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Mwalimu-G
Elder Lister
Smoke, no mirrors, complete with photoshop headlines...
Investigative Analysis: Unraveling the Eurobond Heist. The Eurobond saga unfolded as a convoluted financial mystery, shedding light on the purported misappropriation of a colossal sum, approximately US$1.998 billion.
Our verified discourse provides an intricate breakdown of how an investigative agent might expose this audacious theft. Timeline of Key Events: 1. June 24, 2014: The Eurobond funds, totaling $2.75 billion, were deposited into the JP Morgan Chase account. 2. Late June 2014: Despite Kenya's financial year ending on June 30, no immediate action was taken on the JP Morgan Chase account.
3. September 5, 2014: The Central Bank of Kenya (CBK) ostensibly advised the Treasury to transfer the remaining funds, nearly one billion US dollars, from JP Morgan Chase to Kenya.
4. September 8, 2014: Shockingly, the funds were diverted to the Federal Reserve Bank of New York instead of being transferred to Kenya. 5. December 17, 2014: Tap Sale proceeds were mysteriously credited in one entry to the Sovereign Bond account at the CBK. The Exact Transfer Amount: - The CBK directed the illicit repayment of the US$604,560,737.50 Syndicated Loan and correctly transferred US$395,439,262.50 to the Consolidated Fund.
Strikingly, the sum of these amounts precisely equaled one billion US dollars. - Questions arise about the seemingly arbitrary choice of US$395,439,262.50, casting doubt on the intended purpose of the funds. Lack of Documentation: - No legitimate documentation was unearthed for the transfer of nearly one billion US dollars from JP Morgan Chase to Kenya.
The absence of evidence raises suspicions about the transparency of this transaction. - A backdated letter, allegedly from CBK to Treasury on September 5, 2014, hinted at the reception of necessary forms for the transfer.
However, the investigator questioned the authenticity of this letter, given the lack of subsequent correspondence. Missing Paper Trail: - Following the diversion to the Federal Reserve Bank of New York on September 8, 2014, the paper trail abruptly ceased.
The investigator emphasized the glaring lack of documentation regarding the subsequent fate of the funds. Bogus Letters and Cover-Up: - Seven subsequent letters, dated between September 15, 2014, and June 26, 2015, surfaced, requesting the transfer of fictitious funds to the Consolidated Fund. The investigator exposed inconsistencies in numbering and authenticity. -
These letters, along with an October 29, 2015 letter, falsely affirmed the depletion of the GoK/CBK Sovereign Bond account, constructing a misleading narrative of funds being transferred to Kenya. Call for Transparency and Accountability: - The investigative agent stressed the imperative need for the CBK and Treasury to disclose unredacted correspondence from the Federal Reserve Bank of New York. This includes account holder details, balance statements, and transaction records.
- Without these documents, the investigator asserted that the only plausible conclusion is that the money was stolen. By September 2016, the Kenya Auditor General reported that Ksh.215.5 billion from the Eurobond proceeds could not be accounted for.
The revelation raised serious concerns about potential misappropriation or theft of funds within the Eurobond utilization. Instances such as the State Department of Water's inability to account for some Ksh.11.2 billion from the Eurobond proceeds added to suspicions of financial irregularities.
The lack of a clear trail for a substantial portion of the funds hinted at the possibility of financial impropriety and raised questions about the integrity of the entire Eurobond utilization process under Uhuru Kenyatta's (Uhunye) watch. #VerifiedDiscourse
Investigative Analysis: Unraveling the Eurobond Heist. The Eurobond saga unfolded as a convoluted financial mystery, shedding light on the purported misappropriation of a colossal sum, approximately US$1.998 billion.
Our verified discourse provides an intricate breakdown of how an investigative agent might expose this audacious theft. Timeline of Key Events: 1. June 24, 2014: The Eurobond funds, totaling $2.75 billion, were deposited into the JP Morgan Chase account. 2. Late June 2014: Despite Kenya's financial year ending on June 30, no immediate action was taken on the JP Morgan Chase account.
3. September 5, 2014: The Central Bank of Kenya (CBK) ostensibly advised the Treasury to transfer the remaining funds, nearly one billion US dollars, from JP Morgan Chase to Kenya.
4. September 8, 2014: Shockingly, the funds were diverted to the Federal Reserve Bank of New York instead of being transferred to Kenya. 5. December 17, 2014: Tap Sale proceeds were mysteriously credited in one entry to the Sovereign Bond account at the CBK. The Exact Transfer Amount: - The CBK directed the illicit repayment of the US$604,560,737.50 Syndicated Loan and correctly transferred US$395,439,262.50 to the Consolidated Fund.
Strikingly, the sum of these amounts precisely equaled one billion US dollars. - Questions arise about the seemingly arbitrary choice of US$395,439,262.50, casting doubt on the intended purpose of the funds. Lack of Documentation: - No legitimate documentation was unearthed for the transfer of nearly one billion US dollars from JP Morgan Chase to Kenya.
The absence of evidence raises suspicions about the transparency of this transaction. - A backdated letter, allegedly from CBK to Treasury on September 5, 2014, hinted at the reception of necessary forms for the transfer.
However, the investigator questioned the authenticity of this letter, given the lack of subsequent correspondence. Missing Paper Trail: - Following the diversion to the Federal Reserve Bank of New York on September 8, 2014, the paper trail abruptly ceased.
The investigator emphasized the glaring lack of documentation regarding the subsequent fate of the funds. Bogus Letters and Cover-Up: - Seven subsequent letters, dated between September 15, 2014, and June 26, 2015, surfaced, requesting the transfer of fictitious funds to the Consolidated Fund. The investigator exposed inconsistencies in numbering and authenticity. -
These letters, along with an October 29, 2015 letter, falsely affirmed the depletion of the GoK/CBK Sovereign Bond account, constructing a misleading narrative of funds being transferred to Kenya. Call for Transparency and Accountability: - The investigative agent stressed the imperative need for the CBK and Treasury to disclose unredacted correspondence from the Federal Reserve Bank of New York. This includes account holder details, balance statements, and transaction records.
- Without these documents, the investigator asserted that the only plausible conclusion is that the money was stolen. By September 2016, the Kenya Auditor General reported that Ksh.215.5 billion from the Eurobond proceeds could not be accounted for.
The revelation raised serious concerns about potential misappropriation or theft of funds within the Eurobond utilization. Instances such as the State Department of Water's inability to account for some Ksh.11.2 billion from the Eurobond proceeds added to suspicions of financial irregularities.
The lack of a clear trail for a substantial portion of the funds hinted at the possibility of financial impropriety and raised questions about the integrity of the entire Eurobond utilization process under Uhuru Kenyatta's (Uhunye) watch. #VerifiedDiscourse