The loss of 21 Billion which was meant for Arror and Kimwarer Dam happened through a well thought money cycle scheme.
The siphon from the latest report by the Director of Criminal Investigation George Kinoti was planned and executed by top brains that would make the chain hard to trace.
Kinoti said money was wired to Italy then London (UK) and back home before being withdrawn from a local bank.
“The involved persons went to the National Treasury again asking for mobilisation funds. They got a nod and proceeded to Barclays Bank and secured loans,” he told MPs of the probes on the suspected loss of Sh21 billion.
Kinoti stated that the bank was duped into advancing the loans to a different company from the one that won the dams’ contract and that the money was used to purchase 48 vehicles, lorries, double cabs and tractors.
The vehicles were impounded — 40 in Nairobi and eight in Nakuru. The vehicles belonged to the Italian firm CMC Di Ravenna that was awarded the dams’ contract, according to detectives. The vehicles are at the DCI headquarters.
The vehicles cannot be auctioned, as they were used as security to access the loan, he told the team led by Paul Koinange (Kiambaa).