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NYS Scam: DPP Forms Team to Review Files of 5⃣ banks

The DPP has constituted a team of prosecutors to review files of five banks for concealing and facilitating the theft of Sh9m in the NYS scam.

Investigations from the DCI noted that Standard Chartered Bank, Kenya Commercial Bank, Equity Bank, Diamond Trust Bank and Cooperative Bank aided and abetted the theft.

"The DCI has today forwarded the investigation files relating to the commercial banks with recommendations," Noordin Haji said.

In a statement on Thursday, Haji said the DCI asked that charges be preferred against the banks, bank officials, individuals and entities.

The charges are for concealing and facilitating, aiding, abetting and benefiting from proceeds of the crimes.

During the investigations, it was found that Standard Chartered Bank received Sh1,628,902,000 between January 2016 and April 2018.

Out of this, it was established that Sh588,558,000 was suspiciously transacted by bank officials and no report was made to the financial reporting centre.

According to the DCI, KCB received Sh800 million but Sh148,397,000 was transacted by bank officials without following proper regulations.

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