Connect with us

Business

Suspect: ‘My Sh2 billion not fake, give it back’

Published

on

A man charged with stashing fake currency worth Sh2 billion in a safe deposit box now claims that the bills are genuine.

Eric Adede , in an urgent suit filed at the High Court, instead accused the State’s investigative and prosecutorial agencies of switching his dollar bills with fake notes to paint him as a money launderer.

“It is true I am the owner of the box held at Barclays Bank which contained a total of $20,067,900 in 100-dollar denomination, among other items.

The DCI knows that the money is not fake and is illegally withholding it without any authority,” swore Adede.The suspect, who sought orders to compel the Director of Criminal Investigations and the Director of Public Prosecutions to surrender the seized money, claimed there was a plot to defraud him of his property.

Adede’s lawyer, Martin Oloo, told the court that the DCI and the DPP had cooked up the story that his client had fake currency “to boost their public image”.Mr Oloo claimed that the money did not form part of the criminal charges laid out against Adede.

“The prosecutors in their submissions in court stated that the money held does not form part of the prosecution. The petitioner fears that they might tamper with his clean money and substitute it with fake ones to deprive him of his hard-earned property,” said Oloo.

READ ALSO:   Police raid Kilimani home and seize fake gold bars, impound several vehicles

Fake gold

Adede was last month charged alongside Ahmed Shah, Irene Wairimu Kimani and Elizabeth Muthoni with several counts in connection with the suspected forged dollar bills and fake gold recovered inside the bank’s Queensway branch in Nairobi.

The charges stated that on March 19, the suspects conspired to defraud Muriithi Materi Mbuthia of Sh20 million by falsely pretending they were carrying out a genuine business as investors in Nairobi.Adede faced two additional charges of possessing the fake dollars and being found in possession of 41.373 kilos of brass in contravention of the Mining Act.

The Nairobi-based businessman-cum-politician and his co-accused were arraigned in court where a magistrate detained them for five days to allow police complete investigations.

This after investigators told the court that they needed to send the recovered currency to document examiners and forensic experts to ascertain if it was fake or genuine.

The verification process also involved the Central Bank of Kenya and the Department of Mining to confirm authenticity of seized metal that was suspected to be fake gold.

According to police, the fake currency had been used to con unsuspecting people before officers busted the counterfeiting ring and arrested the suspects.

Barclays Bank, in a statement, denied knowledge of the fake money stashed in the safe deposit box. Bank officials said they were not aware that one of their customers had hidden counterfeit bills, which was against the bank’s rules and regulations.

READ ALSO:   Wetang'ula in China for anti-graft forum

The officials said they normally don’t know what customers store in their personal safe deposit boxes.

source:standardmedia.co.ke

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Shipped for Sh3 million: Why KWS’ four K-9s are pampered

Published

on

By JUDITH GICOBI

Kira, Tibo, Diva and Ram are not just like any other dog. They are expensive. About Ksh 3 million taxpayers’ money was spent on shipping them to Kenya. 

Unlike other dogs, these four have passports and other travel documents for international travel.

Head of the Mombasa-based canine unit, Emmanuel Wafula, says the three malinoises and a German shepherd were shipped in from Europe at a young age, which is the best age for learning new tricks.

“These are among the few dogs in the country with travel documents. The passports have details about their dates of birth, gender and other ‘personal’ information,” he says.

They are trained for about three months for them to master the scent of contraband items.

“The dogs are primarily trained in detecting ivory, rhino horns and pangolin scales. Since their deployment, cases of illegal wildlife trafficking have decreased,” says Wafula.

They are part of the Kenya Wildlife Service (KWS)’s Canine Unit, and they have heavy duty for each dog, one of the heaviest responsibilities a dog can have along Kenya’s vast coastline – sniffing out any contraband wildlife trophies from Kiunga to Lunga Lunga.

The dogs are accompanied by six handlers and sent to key security installations along the coast, such as the Port of Mombasa and Moi International Airport.

They feed once a day pre-cooked dog food in the evenings after a tour of work, and there are not supposed to breed due to their busy schedule.

READ ALSO:   Now fake gold boxes found at Barclays Bank
Continue Reading

Business

VIDEO: Top Features Optiven’s client from the USA liked about Victory Gardens in Kitengela

Published

on

ADVISTISEMENT: Would you believe that this breathtaking project exists in Kitengela? take the initiative to come for a site visit and confirm the SUPER value additions we have at Victory Gardens. Your dream home is our business! let us be a part of your journey to own property.

Get yourself a super value added plot guaranteed to transform your dream home into the envy of many only in Victory Gardens in Kitengela. Call us on 0723 400 500 for details. www.optiven.co.ke

READ ALSO:   Flying squad discover billions in fake currency at Barclays Bank branch
Continue Reading

Business

Toyota recalls 3.4 million vehicles worldwide over airbag glitch

Published

on

By JUDITH GICOBI

Over three million Toyota vehicles have been recalled over malfunctioned airbags.

The electronic error in the manufacture has been experienced in their cars around the world. Some of the airbags failed to launch at impact during accidents.

The recall had affected around 2.9 million vehicles in the US between 2011-2019 Corolla makes, 2011-2013 Matrix, 2012-2018 Avalon and 2013-2018 Avalon Hybrid vehicles.

The malfunction is in the electronic control unit that doesn’t provide sufficient guard against the electrical noises that are experienced during the accidents, which are causing the incomplete release of the airbags. 

The car dealers will have to add a noise filter between the airbag control module and its wire harness where necessary.

READ ALSO:   Flying squad discover billions in fake currency at Barclays Bank branch
Continue Reading


Are you looking for a Church to fellowship in Atlanta Metro Area?

poapay3

Like us on Facebook, stay informed

NEWS TRENDING RIGHT NOW

2019 Calendar

satellite-communication1.jpg

Trending

error: Content is protected !!