Ex-Family Bank chiefs sued over NYS transactions

Family bank CEO Peter Munyiri. Photo/File
Family bank CEO Peter Munyiri. Photo/File

A Nairobi court yesterday summoned

former Family Bank chief executive

Peter Munyiri and seven former senior

managers to answer charges of helping

an alleged money laundering ring involving

more than Sh1 billion.

This is related to the processing of

bulk transactions linked to the NYS

scam at Family Bank’s KTDA branch

on Moi Avenue.

The eight have been sued for failing

to report to the Financial Reporting

Centre large transactions made by

the NYS fraud key suspect Josephine Kabura through her three companies.

FRC is the state arm responsible for

helping identify proceeds of crime and

combating money laundering.

Milimani commercial court’s senior

principal magistrate Joyce Gandani

issued the order following an application

by senior state counsel Duncan

Ondimu.

The suspects are required to appear

in court on December 30 to plead to

the charges.

According to the charge sheet,

Munyiri is charged alongside Family

Bank KDTA branch manager Robert

Oscar Nyaga, anti-money compliance

manager Charles Thiong’o, head of risk

and compliance Raphael Ndunda, operations

supervisor Nancy Njambi, relationship

platinum manager Meldon

Onyango, customer service supervisor

Josephine Wairi and Family Bank Limited.

It is alleged they aided money laundering.

The prosecution alleges the officials

failed to report the offence and

even went ahead to open numerous

accounts, and authorised suspicious

transactions by Kabura amounting to

more than Sh1 billion.

Key suspect Kabura is alleged to

have opened several accounts at Family

Bank under various business names

which include Reinforce Concrete

Technologies Ltd, Roof and all Trading

Ltd and Form Home Builders Ltd.

The suspects are alleged to have

committed the offences between December

22, 2014, and May, 19, 2015, at

Family Bank KTDA branch.

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