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DPP goes after these 5 banks in Ksh8 billion scandal

Haji goes after top 5 banks in Ksh8 billion scandal

Director of Public Prosecution Noordin Haji

The Director of Public Prosecution Noording Haji is going after 5 local banks presumed to have been involved in the looting of Ksh8 billion at the youth service.

On Thursday, the DPP declared he had formed a team to review files after the Director of Criminal Investigations supported charges against the 5.

"I have constituted a team of Senior Prosecutors to independently review the respective investigation files and make recommendations withing 14 days," DPP Haji stated.

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Banks involved

DCI further recommended that Kenya Commercial Bank, Standard Chartered Bank, Equity Bank, Diamond Trust Bank and the Cooperative Bank of Kenya be charged for allegedly benefiting from the NYS scandal money.

Officials who work for the banks, individuals and other entities also face prosecution after the DCI advised the ODPP to charge them for allegedly concealing, facilitating, aiding and abetting proceeds of crime.

Standard Chartered Bank is accused of having received over Ksh1.6 billion out of which Ksh588 million was suspiciously transacted by bank officials and no report was made to the Financial Reporting Centre as required.

Illegal transactions

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DPP said that KCB received Ksh800 million and more that Ksh148 million was transacted without following the proper regulations.

Equity Bank was alleged to have received over Ksh886 million out of which Ksh264 was transacted with violation of the law.

According to the statement by the ODPP, DTB received Ksh164 million out of which Kh27 million was transacted illegally by Bank officials.

Additionally, DPP stated that Cooperative Bank received Ksh250 million and after investigating the DCI found that Ksh25 million was transacted in violation of the law.

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