The mystery behind Sh50 billion worth of fake currency in police custody

This year has seen some of the biggest seizures made by the Kenyan police cracking a secret network of fake currency dealers.

It, however, remains a mystery on who is the brain behind the printing of the fake currency notes in various parts of the capital Nairobi.

More than a dozen cases have been filed in court this year involving people accused of conning foreigners by pretending to be in a position to sell them gold.

Image result for fake currency in police custody

The amounts they have been defrauded of range from Sh1 million to over the Sh100 million reported last week.

Ms Consolata Achieng, Mr Washington Libese and Mr Enock Mugwana were charged last Monday with illegally obtaining $1,059,000 (Sh100 million) from Mr Kavalenko Henneddi, a Ukrainian.

The three were arrested in Kileleshwa after their victim grew suspicious and reported the matter to police.

An early morning raid by @DCI_Kenya along Kiboko/Mukoma road led to the recovery of millions of fake US Dollars, Zambian Kwachas and over 100 kilograms of fake Gold nuggets. Four foreigners-1 Congolese, 2 Tanzanians, 1 Nigerian-& 4 Kenyans arrested. To be charged in court Today. pic.twitter.com/qgRNsoAPIf— DCI KENYA (@DCI_Kenya) April 16, 2019

On the same day, Mr Benjamin Onyango Oguok was brought before a magistrate and charged with obtaining Sh2 million from Mr Sam Kazal, a British citizen, by pretending he could sell him 3kg of gold.

He denied the charge and was released on cash bail of Sh500,000.

In total, police have seized at least Sh50 billion worth of fake currency in foreign denominations, mostly dollars, based on media accounts alone since the beginning of the year.

The figure could be higher because only huge busts are reported in the media.

The Central Bank of Kenya, the custodian of Kenyan currency, does not usually comment on cases involving counterfeit foreign currency.

This makes it difficult to know how much fake currency could be out there. But experts say it should be a cause of concern for Kenyans.

“I can’t see the fake foreign currency having an impact on the economy because the institutions that deal with forex have got very good mechanisms of finding out if money is real or fake,” said Mr Robert Shaw, a public policy and economic analyst.

“However, because we are in a country with forex exchange liberalisation, Kenyans should be very vigilant. We had the same issue with fake Sh1,000 notes, but we are seeing a pattern now with fake dollars,” he says.

In the latter incident, officers from the Directorate of Criminal Investigations (DCI) seized over 50kg of suspected fake gold nuggets from a house on Lenana Road.

“Detectives acting on information have today arrested four Rwandan nationals — Niyitegeka Seveun, Dushimirimana Egide, Zilimwabagabu Jacques, Ngaragura Emmanuel — and two Kenyans, Grace Wairimu and Erascos Katiku,” said the DCI on its Twitter page.

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