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{
    "id": 370976,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/370976/?format=api",
    "text_counter": 41,
    "type": "speech",
    "speaker_name": "Hon. Wandayi",
    "speaker_title": "",
    "speaker": {
        "id": 2960,
        "legal_name": "James Opiyo Wandayi",
        "slug": "james-opiyo-wandayi"
    },
    "content": "In the late 1980s, the Kenya Government, under then President Daniel Toroitich arap Moi, introduced the infamous Export Compensation Scheme ostensibly to encourage legitimate export of gold, eliminate smuggling and, therefore, increase revenues. Of course, this was not to be, as I will point out later. Hon. Members will recall that the Goldenberg scandal started around 1990, and became a massive economic scam which cost this country close to US$750 million, which is the equivalent of about Kshs60 billion at the current exchange rate. This was, obviously, done through irregular, illegal and fraudulent foreign exchange claims by Goldenberg International and its cohorts."
}