News

Man in $20m Barclays cash bust sues DCI, claims seized money not fake

arrest

Detectives from the Directorate of Criminal Investigations escort suspects (with heads covered) from the Barclays Bank of Kenya Queensway Branch after they were arrested March 19, 2019 for keeping fake currency in a safe deposit box. PHOTO | JEFF ANGOTE | NMG

Summary

  • Erick Otieno Adede alleges that as the account holder of the seized safe box, the DCI is illegally holding sums of monies.
  • He claims the seized money was genuine and hence he risks losing his private property.
  • The criminal case is set to begin on May 9.

The man at the centre of the $20 million (Sh2 billion) fake cash bust at Barclays Bank seeking to have the contents of his safe-deposit box produced in court.

Mr Erick Otieno Adede, a lawyer and international consultant, wants the Director of Criminal Investigations compelled to present the contents of the safe box that was found with the fake cash before court.

He now alleges that as the account holder of the seized safe box since November 25, 2017, the DCI is illegally holding sums of monies which do not form a part of charges he is facing.

He also claims that the seized money was genuine and not fake as alleged and hence he risks losing his private property.

“It is just and equitable that the applicant be heard on a priority basis so that his grievances be remedied without delay,” said his lawyer Martin Oloo.

He has sued the DCI, Barclays Bank and the Director of Public Prosecutions.

March 19 arrest

Mr Adede was arrested on March 19 alongside traders Mohamed Ejaz alias Shah, Mary Wanjiru Mwangi, alias Elizabeth Muthoni, and Irene Wairimu Kimani.

They all faced a joint charge of conspiring to defraud businessman Muriithi Materi Mbuthia of $20 million at the bank's Queensway branch, while pretending to be investors.

He pleaded not guilty to allegations that police found USD20,067,900 as fake money and 41.373 kilogrammes of brass at the ban.

He was freed on a Sh1 million cash bail and the rest on a cash bail of Sh300,000 each.

The criminal case is set to begin on May 9.