Police recovered $20 million (Sh2 billion) in fake currency yesterday at the Barclays Bank Queens way branch , Nairobi and arrested four fraudsters and two bank officials.
The swift action by the detectives stopped dead, an elaborate and devious scheme that had skimmed Sh10 million off a senior corporate executive in an intricate racket police say had been woven by some bank employees in collusion with the fraudsters.
Police suspect the two bank officials have been the custodians of keys to the safe and collaborated with the fraudsters in the whole racket.
The manager of a top company (name withheld) had already bought into the story by the fraudsters, who posed as international investors having seen the ‘cash’ which they passed off as capital for their venture in a safe deposit box.
According to police, they were tipped off by the corporate manager who was scheduled to deposit the money at the bank on Mama Ngina Street. They kept him in their office ready to pounce as the men behind the syndicate were calling the victim, telling him to keep time as they were waiting for him at the bank, which apparently the fraudsters have been using as their office to con unsuspecting victims.
In the meantime, the four suspects, who were later arrested were waiting for the manager at the bank to deposit the Sh10 million for their venture.
One of the suspects, is of Caucasian extraction and who police described as “mzungu wa Ngara” (the Mzungu from Ngara) and posed as the main investor while a Kenyan posed as the bank branch manager.
According to police, the Mzungu had been jailed in Uganda for fraud before he settled in Kenya.
Directorate of Criminal Investigations (DCI) boss George Kinoti said they had established the four suspects were part of an international syndicate that has been conning unsuspecting investors using fake money.
They would lure the investors to the bank’s hall and show them the box containing the money to convince them they are serious investors and the money is real.
They told their targets they planned to invest in Turkana where oil business appeared every inch low hanging fruit and was attracting investors.
And following the tip -off, Flying Squad detectives raided the Barclays Queensway branch at around noon.
“The customer had concealed fake currency in his personal safe deposit box against the bank rules and regulations which include restrictions of items which can be held in the safe deposit box,” a statement from Barclays bank released last evening read.
However, preliminary investigations revealed the fraudsters were colluding with some of the bank employees, who would allow the suspects to take their potential victims to the bank where they would be shown the cash and encouraged to invest with them.
Detectives led by the Flying Squad boss Musa Yego had camped at the bank from noon until around 5pm when the four suspects were whisked away into a waiting police car.