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Wells Fargo makes huge offer to Quickmart after Sh94M heist that baffled the country

Quickmart takes Wells Fargo to court over Sh94 million heist involving their staff

A Wells Fargo cash-in-transit vehicle abandoned along the Southern Bypass

In November 2023, Wells Fargo, a security firm, acknowledged its employees' involvement in a heist in Nairobi, where they stole Sh94.9 million while transporting cash to a bank.

In response, Wells Fargo has offered to pay Quickmart, the affected party, Sh80 million according to their valuables in transit contract.

Peter Walters, Wells Fargo's General Manager for valuables in transit, confirmed the readiness to make the payment.

Quickmart filed a lawsuit against Wells Fargo in February 2024, accusing the security firm of breaching their contract.

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The contract stipulated Wells Fargo's liability to Quickmart at Sh80 million, leaving Quickmart facing a Sh14.9 million loss.

Wells Fargo plans to make the payment from an insurance policy with an undisclosed underwriter.

“Pursuant to the provisions of clause 2(a) of the contract, the defendant (Wells Fargo) accepts that it is bound to indemnify the plaintiff (Quickmart) against loss or damage up to the limit specified in the contract and which occurred during the period of the defendant’s responsibility and which was due to the sole negligence or dishonesty whatsoever, whether it amounted to fraud of the defendant’s employees whilst acting in the course of their employment,” the court documents read.

Despite the ongoing legal proceedings, Wells Fargo claims to have maintained communication with Quickmart and kept them informed about the situation.

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The heist allegedly involved two Wells Fargo employees collaborating with a police escort.

While eight individuals were arrested in connection to the crime, the main suspects remain at large.

The contract between Quickmart and Wells Fargo allows for mediation in case of disputes, but Quickmart has opted for court intervention to secure payment.

Wells Fargo aims to settle the case upon paying the agreed amount.

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According to the investigation manager at the security company, the daring heist unfolded around 6:00 am.

The culprits were identified as the crew commander and the driver.

The duo reportedly absconded with the substantial sum after dumping the vehicle, an Isuzu Canter in Lang’ata.

Sources revealed that the suspects managed to slip away from the security company without the usual police escort.

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It wasn't until the appointed time passed without any sign of the cash-in-transit vehicle that alarm bells began to ring.

Upon further investigation, the abandoned vehicle, stripped of its valuable cargo, was discovered at Dafarm in South C.

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