William Ruto’s millionaire ally Rigathi Gachagua has revealed that he does not keep all his money in a bank account to avoid being questioned about his transactions.
During an interview on Citizen TV on October 21, the Mathira MP hailed President Uhuru Kenyatta’s new directive to raise the threshold of cash transactions.
According to William Ruto’s millionaire ally, the anti-money laundering (AML) laws have been hindering him from banking some of the money he makes.
For the Mathira MP, he makes millions from farming and other businesses but has to remain with cash to avoid questions from the bank when depositing the millions.
”What has happened is that many people have stopped banking. I myself don’t bank some of the money that I make from my farm. Why? Because I have to explain how and where I got the money.
When I was planting nobody asked me questions but when I want to deposit the money I have made after a harvest I have to do so,” Gachagua said.
He further argued that the government should allow one to deposit up to KSh 5 million to improve the Kenyan Economy.
“In my own proposal, the threshold should be around 5 million shillings. That should be the largest amount you can withdraw or deposit in cash.
That will bring money into circulation. People are private in nature and it is not because they are crooks or anything like that,” he concluded.
The Mathira MP has been on the radar of the government over his source of wealth.
He is accused of corruption and gaining KSh 12 Billion illegally.
In a past interview, Gachagua said the EACC was prosecuting him because of his closeness to DP William Ruto.
In a past interview, Rigathi Gachagua revealed the source of his billions and how he grew his business empire.
I started doing business 40 years ago. At the university, we used to get KSh 2,600 as boom, I would organize discos and pick half of the money from these guys; I had a car, I had a factory for sweets… I started long ago,” Rigathi Gachagua explained.
