Tuesday, June 27, 2006

Kenya's $ 1.5 billion tax scam leaked!!!

(Charter House.zip-Wikileaks)
The tax scam involving Kenya's largest supermarket chain(Nakumatt) and a private bank Charter house bank has been leaked . The alleged scam, involving money laundering and tax evasion, was exposed by whistle-blowers as early as 2004. Investigators believe tax evasion and money laundering worth 10% of Kenya's national income are involved. A recent auditor's report says the scale of the operations "threatens the stability of the Kenyan economy".

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