Kamlesh pattni biography channel

He was born into a Hindu family and later converted to Christianity and took the name Paul on his baptism. This Kenyan biographical article is a stub. You can help Wikipedia by expanding it. Contents move to sidebar hide.

Kamlesh pattni biography channel: Kamlesh Pattni offered Al Jazeera

Article Talk. Read Edit View history. Tools Tools. Download as PDF Printable version. Meanwhile, Munyekei continued to diligently file documents at CBK. One day, in Junea new company vouchers appeared on his desk. Then the vouchers grew in number and volume. Munyekei was alarmed when he noticed the same vouchers being repeatedly brought in for payment.

The two raised the matter in Parliament causing a major storm.

Kamlesh pattni biography channel: Pattni was born in Kenya, where

By the time Munyekei was blowing the whistle, more than Sh5 billion had been paid to Goldenberg. Pattni didn't go to sleep. He came up with another scheme. He would borrow foreign currency from banks and friends and deposit it in his bank. Money he would claim to be proceeds from gold exports. For each dollar he deposited, he got the equivalent value in Kenya shillings plus 35 per cent compensation.

He would return the original value of the dollar to the lenders. Pattni also used pretentious export orders to obtain pre-export credit from banks. This scheme led to the eventual fall of the Post Bank of Kenya. Munyekei was fired, arrested and accused of leaking confidential documents to a third party. As he languished in police cells, Pattni acquired the Grand Regency Hotel and other properties.

He was not yet done. He went into cheque kiting using his bank. Cheques would be discounted immediately but upon going for clearing they would be dishonored for insufficient funds. Init was reported to the Central Bank governor that through Pan African Bank and Post Bank, there had been an exchange of 18 kite cheques worth 10 billion shillings.

The two banks went into liquidation. Pattni, even falsified his dollar sale contracts. He would write letters to the CBK to exchange dollars for shillings. While the CBK delivered the shillings equivalent, Pattni never delivered the dollars. On July 31,Munyekei died and was silently interred.

Kamlesh pattni biography channel: Kamlesh Patel, Baron Patel

Pattni had an elaborate security system. He employed Gurkhas, soldiers native to the Indian subcontinent, residing in Nepal. Historically, Gurkha's have served in the Indian, Nepali and British armies. Gurkhas, who are closely associated with the Khukuri, a forward curving knife, are fearless with a legendary military prowess. It is said that at one time, the British army organised a marathon competition between Gurkhas and British soldiers.

Each side fielded athletes. At the end of the marathon, the first 99, were Gurkhas. It is these vicious warriors that protect 'Brother Paul', who had an extra shield of protection from those in power.

Kamlesh pattni biography channel: Pattni has resurfaced as a

Pattni recorded all his meetings with the media and politicians. He ensured that powerful cameras captured figures on the cheques he presented or the cash he dolled out. He then distributed them to his global partners who would release them in the event that he died. It was therefore in the interest of those in power to keep him safe and alive.

The shock and shame of Goldenberg, which choked the economy, is that it was designed and implemented by a year-old. He held the rich and mighty captive. He made them smell the gold dust, turned and twisted them on his fingers. A Judicial Commission of Inquiry looking into the Goldenberg scandal concluded that; "Pattni is therefore shown conclusively and largely on his own admissions and documents, to be a perjurer, a forger, a fraudster and a thief".

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Suvs Pickups Buses. Developments Property Advice. Kamlesh Pattni at his Goldenberg Company in Nairobi. Share this article on social media. Popular this week. Next article Inside William Ruto's plans to revive sugar industry. Similar Articles. By Brian Ngugi Kenya credit rating upgrade set to boost Treasury debt strategy. By Esther Dianah Much of the gold was coming in from mineral-rich Zaire now the Democratic Republic of Congo with the rest generated by village miners in Western Kenya.

James Kanyotu would soon secure a sit-down between Pattni and the then-president of Kenya, Daniel Arap Moi who was excited by the prospects of foreign currency flowing into the country at a time when his government was in serious economic distress. One of the economic policies introduced to bolster foreign currency inflows was the export compensation scheme to promote non-traditional exports such as minerals that were exported through Kenya.

Exporters would present their paperwork and receive compensation directly from the Central Bank of Kenya. So powerful was Pattni that on one occasion when a senior customs officer seized his gold at Wilson Airport based on false declaration forms, Pattni made one phone call and the government machinery led by the Intelligence Chief, Commissioner of Customs, Criminal Investigative Department CID Director all made calls directing that the cargo be released, albeit irregularly.

Pattni would also use this influence to secure a higher percentage on his claims for export compensation. As for foreign receipts on exports he would send money to his own entities abroad and wire it back as proceeds of gold export. The generation of fake compensation claims became the cornerstone of his scheme, and when banks started pointing out the anomaly, Pattni called upon his partner James Kanyotu and they formed their own bank, Exchange Bank Ltd.

The scandal, which came to be known as the Goldenberg Scandal was exposed in when a patriotic whistleblower, Mr. Kamlesh Pattni, and four others including his wife and brother-in-law, will have their assets frozen, a statement from the UK Foreign and Commonwealth and Development Office read. He has since faced allegations of involvement in the illicit gold trade in Zimbabwe, which he has previously denied.

It goes to say that Russia uses illegal gold to fund its war in Ukraine. The UK and other Western countries banned the import of Russian gold in to stop Moscow's ability to fund the war. The UK said the sanctions were meant to "disrupt and deter" the business dealings of Pattni. He was allegedly one of the key architects of the Goldenberg scandal - a major gold and currency fraud in the s which almost bankrupted Kenya and involved senior members of Kenya's government.