Police freeze accounts of 13 firms linked to Sh9b scandal

Anti-banking fraud detectives have frozen accounts of 13 firms linked to alleged theft of Sh9 billion from the National Youth Service (NYS).

The move follows a court order last month granting police permission to freeze three accounts operated by the firms— ─ two at Consolidated Bank and another at Barclays

Bank.  Narobi chief magistrate Francis Andayi allowed police to  withhold all monies held in the accounts for 90 days pending investigations.

As part of the facilitation, the aforementioned banks are required to furnish detectives  with account opening details that the 13 firms used as well as both transactional statements. These include remittances in and out of the account, cheques transactions, SWIFT/RTGS, deposit and withdrawal slips.

The firms are part of 36 companies which are claimed to have received funds from NYS yet they did not supply any goods and services, top being Firstling Supplies, which has already been paid Sh1.3 billion.

Also being investigated are Annwaw Investments, Calabash Investments, Arkroad Holdings Ltd, Kunjiwa Enterprises, Ameratrade Enterprises, Ngiwako Enterprises, Jerrycathy Enterprises, and Ersatz Enterprises.

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