Business
Stanbic Accused Of Frustrating Investigations Into Alleged Multimillion Fraud In The Bank
The case will be mentioned on June 24 to confirm whether the lender will have complied with the court directive.
A leading Kenyan bank has been on the spot for allegedly trying to hide crucial information from the court, prompting a Nairobi magistrate court to be ruthless and direct an investigator to obtain all documents from the bank that is being investigated for banking fraud.
Milimani senior principal magistrate Bernard Ochoi on Thursday, gave the directions after a representative from Stanbic Bank told court they were ready to serve the required records by the investigator Caroline Omwoyo attached to the Banking Fraud Investigation Unit.
This is after banking fraud investigation unit filed an application in April seeking the court to issue a warrant to investigate bank account(s), and investigate books of an account domiciled at the bank.
The magistrate had issued the order on April 17, but the lender claimed that the documents were not in their custody.
The investigating officer also sought to inspect/investigate, obtain information and demand to be supplied with and carry away as exhibits.
Omwoyo also wanted an order for the bank official(s) to record statements regarding the account and the disputed entries therein.
“Court be pleased to issue an order compelling the manager, the respondent herein, to nominate authorised person to make and hand over a certificate of production of electronic evidence Certified Copies generated electronically,” the court was told.
Subsequently, orders compelling the bank to provide the said documents and information were issued on April 17, 2024, however, the bank management allegedly failed to adhere to the orders.
The bank would later respond via email on April 29 saying the requested documents were not in their custody.
When the case came up on Thursday, the prosecution had sought to have the head of legal at the bank held in contempt for not honoring to the orders issued by the court.
The bank however responded that they had the documents.
The case will be mentioned on June 24 to confirm whether the lender will have complied with the court directive.
Kenya Insights allows guest blogging, if you want to be published on Kenya’s most authoritative and accurate blog, have an expose, news TIPS, story angles, human interest stories, drop us an email on [email protected] or via Telegram
Both Sides Claim Victory After US, Iran Agree To 11th-Hour Truce
The Teflon Company: How Gulf Energy’s Insiders Built Billions on Kenya’s Fuel, and Walked Away Clean
Inside Details Of Sh78 Billion Fraud in KPC’s Mombasa-Nairobi Line 5 Pipeline Project That Has Continued To Bleed The Country
Details Of The Precise Rescue Of Elite US Troops From Iranian Territory
The Fuel Deal That Exposed Wandayi’s Lies As Pressure Mounts For His Resignation
Who Architected the Ksh 4.8 Billion Fuel Scandal? Two CSs Now Caught in the Storm
THE ZAKHEM-ECOBANK MACHINE: How Kenya’s Courts Were Weaponised to Drain a State Corporation of Over KES 78 Billion
Poison at the Pump: How Kenya’s Fuel Marking System May Be Exposing Millions to Cancer-Causing Chemicals
Inside Nyayo House: The Kitchen Cartel That Demands Sh100,000 for a Stove
JSC Rot: “Why I Paid Over Sh4 Million for a High Court Slot” — Explosive Claims by ‘Incoming Judge’
Tuju Forcefully Removed From His Karen Property With Masked Officers In Unmarked Vehicles In Early Morning Raid
Named: Havi Says Mutava Confessed He Was Collecting The Bribe For Lady Justice Josephine Mongare, So Why Is JSC Still Silence?
How Little-Known Pesa Print, Linked to State House Tycoons, Won NTSA Tender Worth Sh42 Billion in Traffic Fines
The Man With The Golden Pen: How NLC’s Joel Ombati Is Accused Of Masterminding Kenya’s Biggest Infrastructure Land Heist
‘They Will Eat You Alive’: Retired Teacher Warns Against Bashy African Credit as Sh500,000 Loan Spirals Into Sh1.5 Million Fight
THE HANDSHAKE THAT BECAME A NOOSE: How Tuju’s Alleged Intimate Access to EADB’s Yeda Apopo Produced a Sh294 Million Deal With No Written Contract, and Why That Trust Destroyed an Empire
Forged Legacy: How Kaplan and Stratton’s Peter Gachuhi Is Accused of Faking a Top AG’s Will as State Claims Damning Evidence
Waweru’s Bank Pockets Sh1.16 Billion from KPC IPO While Ordinary Kenyans Fled the Sale
Men Linked to Akasha Drug Dynasty Charged With Death Threats and Assault at Nairobi Nightclub
How Firm Linked To Mombasa Tycoon Jaffer Was Allowed To Import Fuel At Bloated Price And Set To Make Billions In Profits From Iranian War Crisis In Kenya
-
Business2 weeks agoTHE HANDSHAKE THAT BECAME A NOOSE: How Tuju’s Alleged Intimate Access to EADB’s Yeda Apopo Produced a Sh294 Million Deal With No Written Contract, and Why That Trust Destroyed an Empire
-
Investigations1 week agoForged Legacy: How Kaplan and Stratton’s Peter Gachuhi Is Accused of Faking a Top AG’s Will as State Claims Damning Evidence
-
News2 weeks agoMen Linked to Akasha Drug Dynasty Charged With Death Threats and Assault at Nairobi Nightclub
-
Business7 days agoHow Firm Linked To Mombasa Tycoon Jaffer Was Allowed To Import Fuel At Bloated Price And Set To Make Billions In Profits From Iranian War Crisis In Kenya
-
News2 weeks agoCity Lawyer Kimani Wachira Caught Up In Bribery Web Fights Claims
-
News6 days agoTreasury Hands Sh358M Brief to Eric Gumbo’s Firm While Bypassing Standard Rules — and the Lawyer Is Already Deep Inside Ruto’s State Machine
-
Business6 days agoSold And Abandoned: How Diageo and Asahi Are Locking Kenya’s EABL Minority Shareholders Out Of East Africa’s Biggest Corporate Heist
-
Business1 week agoTHE BANK THAT BROKE THE TRUCKER: How NCBA’s Asset Financing Empire Is on Trial Before London’s Most Feared Arbitral Tribunal