corruption
- Thread starter smallfish
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Because huyo ni @smallfish
Steal Ksh 1.3 Billion
Give back Ksh 300 million.
HURRAY!
Banks that handled Sh1.3bn City Hall loot
Sunday, November 18, 2018 22:00
EACC said the tidy deposits could not be built by man whose net income over the 55 months was Sh5.8 million
Mr Jimmy Mutuku Kiamba when he appeared in court earlier in June to plea to funds misuse charges. FILE PHOTO | NMG
By SAM KIPLAGAT
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IN SUMMARY
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The anti-graft agency has revealed the four banks former City Hall chief Finance Officer (CFO) Jimmy Mutuku Kiamba used to stash Sh1.3 billion believed to be proceeds of crime.
The Ethics and Anti-Corruption Commission (EACC) says Mr Mutuku deposited large sums of money in several accounts held at CfC Stanbic Bank #ticker:CFC (Sh719 million), Standard Chartered Bank #ticker:SCBK (Sh312 million), Equity Bank #ticker:EQTY (Sh286 million), Co-operative Bank #ticker:COOP (Sh32.1 million) and Gulf Africa (Sh39.1 million).
Mr Kiamba on average deposited Sh23.6 million monthly through proxies including City Hall accountants, security staff, clerks and his official driver between August 2009 and February 2015, court documents reveal.
EACC said the tidy deposits could not be built by man whose net income over the 55 months was Sh5.8 million or an average monthly pay of Sh105,454 and servicing loans amounting to Sh180.7 million.
Mr Kiamba’s estate includes two maisonettes in South C, a plush town house in Kileleshwa, four apartments in Kilimani and eight plots of land in Muthaiga, Mavoko and Machakos, said the anti-graft agency.
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The former City Hall finance chief also owns a fleet of six cars.
“The defendants, jointly and severally, should be ordered to pay to the government Sh1,159,820,617 being the difference between the total deposits into their accounts and their known legitimate sources of income,” EACC investigator James Kariuki told the court.
Details on the bank deposits emerged as Central Bank of Kenya upheld fines totalling Sh392.5 million imposed on Standard Chartered Kenya, Equity, Diamond Trust, Co-operative Bank and KCB Group for failure to report suspicious transactions in connection with the theft of funds at National Youth Service (NYS).
The banks failed to report large transactions and to undertake proper due diligence on customers.
It is not clear whether lenders made the reports over the huge and regular deposits in Mr Kiamba’s 11 accounts in the five banks.
EACC said Mr Kiamba mostly relied on staff at City Hall to make the bulk of the deposits.
The staff mentioned in court papers are former head of Treasury at City Hall Stephen Osiro, Ms Nancy Waithera, who worked at the security department, a clerical officer Mr Ambrose Musau, Mr Joseph Njoroge and Mr Kiamba’s driver- Joseph Mwaura.
The anti-graft agency had earlier secured orders to freeze the Mr Kiamba’s assets to pave way for further investigations into his vast estate.
The EACC further said the former City Hall official’s actual wealth was well beyond the amount he declared in 2007 and 2013 and that only proper investigations could reveal his true worth.
https://www.businessdailyafrica.com...-Hall-loot/3946234-4857608-c9puu4z/index.html
Give back Ksh 300 million.
HURRAY!
Banks that handled Sh1.3bn City Hall loot
Sunday, November 18, 2018 22:00
EACC said the tidy deposits could not be built by man whose net income over the 55 months was Sh5.8 million
By SAM KIPLAGAT
More by this Author
IN SUMMARY
- EACC said the tidy deposits could not be built by man whose net income over the 55 months was Sh5.8 million
- It's unclear whether CfC Stanbic, StanChart, Equity, Co-op and Gulf banks reported the huge and regular deposits.
Advertisement
The anti-graft agency has revealed the four banks former City Hall chief Finance Officer (CFO) Jimmy Mutuku Kiamba used to stash Sh1.3 billion believed to be proceeds of crime.
The Ethics and Anti-Corruption Commission (EACC) says Mr Mutuku deposited large sums of money in several accounts held at CfC Stanbic Bank #ticker:CFC (Sh719 million), Standard Chartered Bank #ticker:SCBK (Sh312 million), Equity Bank #ticker:EQTY (Sh286 million), Co-operative Bank #ticker:COOP (Sh32.1 million) and Gulf Africa (Sh39.1 million).
Mr Kiamba on average deposited Sh23.6 million monthly through proxies including City Hall accountants, security staff, clerks and his official driver between August 2009 and February 2015, court documents reveal.
EACC said the tidy deposits could not be built by man whose net income over the 55 months was Sh5.8 million or an average monthly pay of Sh105,454 and servicing loans amounting to Sh180.7 million.
Mr Kiamba’s estate includes two maisonettes in South C, a plush town house in Kileleshwa, four apartments in Kilimani and eight plots of land in Muthaiga, Mavoko and Machakos, said the anti-graft agency.
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- Documents hitch derail Kidero’s Sh213 fraud suit
- Ex-City Hall CFO bank accounts to remain frozen
The former City Hall finance chief also owns a fleet of six cars.
“The defendants, jointly and severally, should be ordered to pay to the government Sh1,159,820,617 being the difference between the total deposits into their accounts and their known legitimate sources of income,” EACC investigator James Kariuki told the court.
Details on the bank deposits emerged as Central Bank of Kenya upheld fines totalling Sh392.5 million imposed on Standard Chartered Kenya, Equity, Diamond Trust, Co-operative Bank and KCB Group for failure to report suspicious transactions in connection with the theft of funds at National Youth Service (NYS).
The banks failed to report large transactions and to undertake proper due diligence on customers.
It is not clear whether lenders made the reports over the huge and regular deposits in Mr Kiamba’s 11 accounts in the five banks.
EACC said Mr Kiamba mostly relied on staff at City Hall to make the bulk of the deposits.
The staff mentioned in court papers are former head of Treasury at City Hall Stephen Osiro, Ms Nancy Waithera, who worked at the security department, a clerical officer Mr Ambrose Musau, Mr Joseph Njoroge and Mr Kiamba’s driver- Joseph Mwaura.
The anti-graft agency had earlier secured orders to freeze the Mr Kiamba’s assets to pave way for further investigations into his vast estate.
The EACC further said the former City Hall official’s actual wealth was well beyond the amount he declared in 2007 and 2013 and that only proper investigations could reveal his true worth.
https://www.businessdailyafrica.com...-Hall-loot/3946234-4857608-c9puu4z/index.html
