Kenyan police and detectives seized a personal safety deposit box containing more than $20 million in counterfeit money Tuesday, according to CNN.
Made up of fake $100 dollar bills, the deposit box was reportedly found at a Barclays Bank branch in Nairobi, the nation’s capital.
“Six people were arrested … by DCI detectives in connection with fake currency amounting slightly over $20 million at Barclays Kenya Queensway Branch,” said Kenya’s Directorate of Criminal Investigations (DCI) in a statement on Twitter. (RELATED: First Lady Melania Trump Visits Children In Nairobi, Kenya)
6 People were arrested today evening by @DCI_Kenya Detectives in connection with Fake currency amounting to slightly over 20Million US Dollars @Barclays_Kenya~Queensway Branch. The fake notes in 100 Dollar denominations were recovered from the Bank’s Safe Room|@Barclays_Kenya pic.twitter.com/nxIYOW7icE
— DCI KENYA (@DCI_Kenya) March 19, 2019
Among those arrested was the owner of the deposit box, Erick Adede, and two bank officials, Boaz Ochich and Charles Manzi. A person who would have been defrauded by the suspects was already collaborating with the investigation, added the DCI.
The six suspects are:-
Dr. Erick Adede-Owner of the Box
Mr. Ahmed Shah- Fake Investor
Ms. Elizabeth Muthoni
Ms. Irene Wairimu Kimani
Mr. Boaz Ochich – Bank official
Mr. Charles Manzi-Bank official
Also held for statement recording is a witness who would have been conned. pic.twitter.com/IK0Zw00wes
— DCI KENYA (@DCI_Kenya) March 19, 2019
Additionally, the bank, which is a subsidiary of the South African Absa Group, said they were working with police in the investigation and that the contents of the deposit box were only known to the owner. The bank also said the money was not part of its deposit and it went “against the bank’s rules and regulations.” (RELATED: Conservative Under Consideration For World Bank President)
“The customer had concealed fake currency in his personal safe deposit box against the bank’s rules and regulations which include restrictions of items which can be held in the safe deposit box,” said Barclays Bank Kenya in a statement.
Updated press statement. pic.twitter.com/o1kTwB9AX2
— Barclays Bank Kenya (@Barclays_Kenya) March 19, 2019
The large seizure of funds transpires as lawmakers in the east African country are pushing for a policy that removes current strict banking laws requiring financial institutions to “declare the source, purpose and beneficiaries” when moving transactions more than $10,000.
However, Patrick Njoroge, the governor of the Central Bank of Kenya (CBK), believes that the new law would put Kenya in danger of being “blacklisted” by the Financial Action Task Force (FATF). The task force, of which Kenya is a member, is an intergovernmental body that sets standards to promote legal and operational measures against money laundering and corruption. (RELATED: Who’s Paying For This $5 Billion Nuclear Plant In Kenya?)
“Kenya’s banking sector will be blacklisted internationally and the country will most likely be blacklisted by the FATF,” said Njoroge while in front of the finance committee in February.
“The adverse effects of the amendment on the banking sector, would be immediate termination of relationships by foreign correspondent banks and closure of accounts of Kenyan banks,” insisted the CBK governor while in front of the finance committee in February.