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{
    "id": 1557205,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1557205/?format=api",
    "text_counter": 634,
    "type": "speech",
    "speaker_name": "Kisumu East, Independent",
    "speaker_title": "Hon. Shakeel Shabbir",
    "speaker": null,
    "content": " Thank you, Hon. Temporary Chairlady. This omnibus proposal overlooks the fact that the Estate Agents Act has been used many times for money laundering and combating the financing of terrorism. It was heavily used in Mombasa to launder the proceeds of piracy, and you know what the effects were. As much as I agree that the penalties should be upgraded, I do not agree that the fines should not exceed Ksh5 million for a legal person, and Ksh1 million for a natural person. I propose that it should read, “Not less than Ksh5 million for a legal person and not less than Ksh1 million for a natural person.” Estate agents fueled illicit funding and money laundering at the Coast. They would take the proceeds of piracy and buy properties at ten times their value. If we make the penalties severe enough…"
}