One week after Director of Public Prosecutions (DPP) Noordin Haji revealed that more banks have lined up to return funds siphoned from the National Youth Service (NYS) after entering into a plea deal with Family Bank, the country’s top prosecutor is now going after five more banks that are alleged to have been involved in the t***t of Ksh8 billion at the institution.
In a statement uploaded on ODPP’s official twitter handle, Haji says that he has constituted a team of senior prosecutors to investigate suspicious transactions by The Standard Chartered Bank, The Kenya Commercial Bank, Equity Bank, Diamond Trust Bank (DTB) and Co-operative Bank which were not reported as required by law.
The team is expected to report back with recommendations within 14 days.
“The DPP directed investigations in respect to five commercial banks by the regulator and the Directorate of C******l Investigations (DCI) with regard to suspected violations that govern banks and provisions of the C***e and Anti Money Laundering Act,” reads the DPP’s statement.
DCI has now forwarded the file to Haji recommending charges against the banks, the banks’ officials, individuals and entities for concealing and facilitating, aiding, abetting and benefitting from c***e.
— Office of The Director Of Public Prosecutions (@ODPP_KE) February 7, 2019
The DCI detectives established that Standard Chartered received a total of Ksh1.6 billion between January 2016 and April 2018 out of which it was established that Ksh558.55 million was suspiciously transacted by bank officials and no report was made to the Financial Reporting Centre (FRC)
Kenya’s largest bank was cited to have received a total of Ksh800 million out of which Ksh 148.3 million is suspected to have been transacted fraudulently.
Equity Bank is said to have received 886.4 million out of which it was established that Ksh 264.2 million and another Ksh5.8 million was transacted illegally.
Diamond Trust Bank
The bank is said to have moved Ksh164 million out of which Ksh27.9 million was transacted illegally.
Co-operative Bank is listed as having received Ksh 250 million out of which Ksh25 million was transacted through the bank in violation of the law.