| Updated Wed, July 12th 2017 at 00:00 GMT +3Yaya Centre Nairobi (Photo: Courtesy)Former Cabinet minister Nicholas Biwott's multi-billion investment, Yaya Centre, located in Hurlingham, Nairobi, featured prominently in the infamous Goldenberg scandal. It was also alleged that his HZ Group of companies was part of the web of Goldenberg companies that received large amounts of money for fictitious export compensation claims. Goldenberg International Ltd, which was registered by Kamlesh Pattni in 1989 as a gold and diamonds exporting firm, was accused of receiving about Sh20 billion in payments for fictitious exports. Prof Terrence Ryan, an adviser on policy and economic planner who worked for the government, told the Goldenberg Commission of Inquiry that the scandal almost led to the collapse of the Kenyan economy. Public coffersAlthough evidence was adduced linking Biwott to the scandal, the commission did not find him guilty of illegally profiteering from the looting of public coffers.

Source: Standard Digital July 11, 2017 20:15 UTC