Former City Hall chief fails to lift assets freeze
Former Nairobi Chief Finance Officer Jimmy Kiamba on Wednesday lost a bid to protect his bank account from being frozen for allegedly failing to pay taxes.
Justice Fred Ochieng ruled that the money in his account was the only viable security available to secure the value of the amount being demanded from him by the Kenya Revenue Authority.
The judge said that most of the properties Mr Kiamba had presented as security to cater for the unpaid tax had not been valued while one of the properties had been used to secure a substantial bank loan.
“In the circumstances, it appears the only realistic security available to KRA is the funds in Mr Kiamba’s bank account,” ruled Mr Justice Ochieng.
Mr Kiamba had, through his lawyer Philip Nyanchoti, said he wanted orders freezing his bank accounts lifted, saying he was experiencing difficulties buying food, educating his children and paying bills.
The judge, however, said while the court appreciates the fact that Mr Kiamba may be undergoing serious financial challenges because he cannot access his account, the justice shifts towards the court not granting orders for the release of the said funds at the moment.
He also directed that the disputed tax assessment be resolved out of court.