Eric Adede who is linked to Sh2 billion fake currency and counterfeit gold in Barclays Bank safe box is out on Sh 1 million cash bail while 3 other suspects freed on Sh300,000 bail.
The four suspects appeared before a Nairobi court on Tuesday.
Appearing before Nairobi Chief Magistrate Francis Andayi, the accused; Erick Adede, Ahmed Shah, Irene Wairimu Kimani and Elizabeth Muthoni were charged with conspiracy to defraud and being in possession of papers intended to resemble and pass as currency notes, and being in possession of mineral.
They denied the charges and were released on bail.
Mr. Adede, who was the owner of the safe deposit box, was released on a cash bail of Ksh.1 million while his co-accused were granted a Ksh.300,00 cash bail.
Magistrate Andayi declined the prosecution’s application to have the accused denied bail on grounds that they needed to prepare an affidavit. The court ruled that the argument for bail denial was not compelling enough.
The Magistrate further noted that all the other accused persons apart from Adede were charged with an offence of conspiracy, which is a misdemeanor, and the prosecution did not show intention to charge them with more charges.
The accused were charged that on March 19, 2019 at Barclays Bank Queens way branch in Nairobi, they conspired with intent to defraud, by falsely pretending they were carrying on a genuine business as investors in Nairobi with Muriithi Materi Mbuthia, who would remit to them Ksh.20 million.
Adede faced an additional charge that “on March 19, 2019 in Nairobi County, without lawful authority or excuse knowingly had in his custody USD dollars 20,067,900 papers intended to resemble and pass as currency notes.”
He was further accused of being found in possession of 41.373 kilograms of brass in contravention of the mining Act.