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A Court in Nairobi, Kenya has frozen 45 bank accounts and 10 mobile money wallets belonging to a Nigerian-owned financial technology firm battling multiple money laundering allegations,
A Nairobi court in Kenya has frozen 45 bank accounts and 10 mobile money wallets belonging to a Nigerian-owned financial technology firm battling multiple money laundering allegations, as scorned individuals and companies begin to queue up for billions the firm has stashed away in local banks. High Court judge Alfred Mabeya last week issued orders freezing the accounts of Flutterwave Payments Technology after a group of 2,468 Nigerian nationals claimed the firm was used to defraud them of $12.04 million (Sh1.6 billion), Business Daily Africa reports.
Flutterwave is planning to list on Nasdaq Stock Market in the United States despite rising card fraud and money laundering charges in Kenya and regulatory hurdles across Africa.
Central Bank of Kenya (CBK) doubles down on its position on Flutterwave and Chipper Cash, orders banks to close fintechs’ accounts | Business Insider Africa
The Nigerian tech startup grabbed headlines when the High Court froze its Sh6.2 billion spread in 62 bank accounts.