We trans­acted part of the NYS loot via lawyer’s ac­count, Sid­ian Bank ad­mits

The Star (Kenya) - - Politics -

The Sid­ian Bank yes­ter­day ad­mit­ted it trans­acted part of the Sh791 Na­tional Youth Ser­vice loot through an ac­count held by a lawyer. The bank told the Na­tional As­sem­bly Pub­lic Ac­counts Com­mit­tee in­ves­ti­gat­ing the mas­sive fraud that they trans­acted money rang­ing from Sh10 mil­lion to Sh50 mil­lion be­long­ing to key sus­pects Josephine Kabura and John Kago Ndung’u, through an ac­count held by Ogola and Com­pany Ad­vo­cates. MD Ti­tus Karanja said Sh40 mil­lion and Sh23 mil­lion was wired from Fam­ily Bank to its ac­count, but the fil­ters could pick it up as be­long­ing to the two prime sus­pects, as the ac­count was known for trans­act­ing huge amounts of money be­cause it dealt in the land and prop­erty busi­nesses. “It was an in­ad­ver­tent omis­sion on our part not to dis­close that when we ap­peared be­fore this com­mit­tee ear­lier,” he said. The bank ear­lier said no NYS pro­ceeds were chan­neled through it.

Newspapers in English

Newspapers from Kenya

© PressReader. All rights reserved.