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HomeYour CountyNakuruI lost my Sh10,150,241 to a crooked bank employee

I lost my Sh10,150,241 to a crooked bank employee

A prominent Nakuru businessman is seeking intervention in a matter involving theft of over Sh 10 million from his bank accounts by an employee of a leading financial institution.

In a petition to the Central Bank of Kenya (CBK) and the Kenya Bankers Association (KBA), Mr Francis Ng’ang’a Kihara, notes that his four bank accounts were yet to be credited with the stolen amount though the financial institution’s employee had been arrested and charged with the theft after internal investigations.

Mr Kihara says following the theft that occurred on diverse dates from June 6, 2017 to August 28, 2019 he went ahead and obtained his bank statements which confirmed his fears. He then went to the bank manager who checked and found that the accounts had been wiped clean.

Three of the affected accounts were held by business ventures he ran including, Joyland Commercial Enterprises Limited, Mount Sinai Agencies and Kabazi Road Petrol Station, while one account was registered in his name.

“I have done follow-ups for close to 11 months without success. I need the funds for my medical checkup,” Mr Kihara indicates in a letter addressed to the financial institution’s Nakuru Branch Manager and annexed to the petition.

A written correspondence between the businessman and the financial institution’s Executive Officer, indicates that it was later agreed with the bank to report the matter to the police and upon investigation, they found out a female employee had a hand in the disappearance of the money without Kihara’s knowledge and consent.

“Pursuant to the acts of theft, your servant was charged with the criminal offense of Stealing by Servant contrary to Section 281 of the Penal Code. Despite the fact that your servant was charged with the criminal offense on February 15, 2021 your bank has failed, neglected or refused to refund our client`s money totaling Sh 10,150,241,” states a letter in part drafted by Kanyi Ngure and Company Advocates and addressed to the bank’s Executive Officer.

The businessman’s attorney indicates in the letter that is also attached to the petition to CBK the Kenya Bankers Association (KBA) that the financial institution had acknowledged liability through several correspondences to their client and that the bank was liable for wrongful acts and omissions of its servants.

In another letter penned on his behalf by Wachira Mbuthia and Company Advocates and addressed to Head of Legal Department at the financial institution, the businessman notes that the matter had taken ‘unreasonably’ long to be concluded and that he was ‘greatly worried’ by the slow pace which had affected his physical and psychological wellbeing.

“Banks are perceived and believed to be secure institutions by their very nature that they hold money in trust and on behalf of their customers. It is expected that they should make sure the money they hold does not go to another person except the owner of the money,” the businessman states in the letter.

Kihara’s attorneys have threatened to institute Court Recovery Proceedings against the financial institution while claiming an interest of 36 percent per annum on the stolen money if the bank will not credit the lost amount within 14 days.

A prominent Nakuru businessman, Mr. Francis Ng’ang’a Kihara, is seeking intervention in a matter involving theft of over Sh 10 million from his bank accounts by an employee of a leading financial institution

“We will be claiming the interest from the date when criminal charges were preferred against your servant from February 15, 2021 until payment in full and all proceedings shall be at your bank’s own risk as to costs and other incidental charges thereby incurred,” warns a demand notice signed by Kanyi Ngure and Company Advocates. 


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