Payment infrastructure platform Korapay has been cleared of fraud allegations in Kenya. The company was accused of Money Laundering by the Asset Recovery Agency (ARA) and the Kenya Directorate of Criminal Investigation (DCI) last July.
In new court documents, Kenya’s Asset Recovery Agency filed a notice of withdrawal at the High Court of Kenya at Nairobi Anti-Corruption and Economic Crimes Division.
In the document drawn and filed on the 19th of October 2022, by state counsel Stephen Githinji on behalf of Kenya’s Asset Recovery Agency director, the agency said that it had withdrawn its suit in its entirety.
In a further document issued by the Kenyan Directorate of Criminal Investigation earlier this week, the agency clears Kora of any wrongdoing in the ARA application.
“Please note that investigations are now finalised. I would like to confirm that allegations of money laundering and card fraud against [Kora] were not established. Please treat this communication as final” — part of the statement from the DCI reads.
“Kora has always maintained its innocence in this matter and we are glad that finally the ARA and the DCI have dropped all charges and ratified Kora. We’d also like to commend both agencies for their professionalism and thoroughness in seeing this investigation to the conclusive end,” says Gideon Orovwiroro, Kora’s Chief Operations Officer.
