Flutterwave Denies Impropriety After Kenyan Court Freezes Funds

Flutterwave Denies Impropriety After Kenyan Court Freezes Funds

Flutterwave Inc. denied reports of financial impropriety after Kenya’s High Court froze the startup’s bank accounts holding more than $40 million.

The money, held in 52 multi-currency accounts in three banks, can’t be moved following the order based on an application by the Assets Recovery Agency under anti-money laundering rules. Flutterwave is prohibited from “transacting, withdrawing, transferring” the funds, according to the court document obtained from the court.

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