DPP NOORDIN HAJI ORDERS FRESH REVIEWS INTO FILES OF BANKS IMPLICATED IN THE NYS CORRUPTION DOSSIER
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DPP NOORDIN HAJI ORDERS FRESH REVIEWS INTO FILES OF BANKS IMPLICATED IN THE NYS CORRUPTION DOSSIER

Feb 07, 2019 | Jimmie Kariuki

The Director of Public Prosecutions Noordin Haji has constituted a team of Independent Prosecutors to look into the case files of 5 banks that were implicated in the transferring of looted NYS Money.

Haji, through a press statement directed that the five banks mentioned in the loot be investigated afresh over suspicions that the banks violated legislations put in place to govern banks and provisions of crime proceeds by aiding in money laundering.

The DPP further gave the team of prosecutor up to 14 days to come up with a conclusive report and make recommendations.

The Banks implicated were: 

Standard Chartered Bank, Kenya Commercial Bank (KCB), Equity Bank, Diamond Trust Bank and the Cooperative Bank of Kenya.

In 2018, it was established that the Standard Chartered Bank received 1,628,902,000in the period between 2016 and 3018 out of which money amounting to 588,558,000 was illegally transferred into individual and company accounts without following due procedure.

The Kenya Commercial Bank, (KCB) received a total of KSh. 800,000,000 out of which 148,397,000 was irregularly wired into different accounts.

Equity Bank received 886,426,904 of NYS Funds into their system out of which 264,200,000 and an additional $8,000 (translating to about 824,000) was transferred irregularly.

Diamond Trust Bank received 164 million shillings out of which 27,946,298 was suspiciously transacted into the different accounts.

The Cooperative Bank of Kenya received a total of KSh.250 Million out of which 25 Million shillings was irregularly transacted.

Noordin further confirmed that powerful individuals in the government were involved in the looting that led to the loss of about KSh. 8 Billion that was lost in 2018.

Earlier last year, the Central Bank of Kenya undertook a close inspection into the named banks and announced penalties and new policies to guide the Financial Institutions as a way o mitigate and control the returning of money acquired through corrupt deals back into the market.

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