Friday August 9, 2019 – The Director of Criminal Investigations (DCI), George Kinoti, has accused Standard Chartered Bank of participating in the alleged looting of Sh 21 billion meant to be towards the phantom construction of Arror and Kimwarer dams in Elgeyo Marakwet County.
On Thursday, DCI detectives intercepted the transfer of Sh 735 million from Stanlib Wealth Amanah Property Limited to Azepco General Trading Company Limited in Dubai.
The transfer was being done at Stanchart Westlands branch and DCI managed to stop the transaction and ordered the account frozen with the help of a court order.
It’s suspected that Azepco General Trading Company also received 5.8 Million Euros (Sh 580 million) from the Italian firm, CMC DI Ravenna, suspected to be deeply involved in the dam scam.
Stanchart Bank becomes the latest to be linked with the multibillion-shilling Kimwarer and Arror dams’ scandal which Treasury CS Henry Rotich, his PS, Kamau Thugge, and other 24 Government officials have also been charged with.
They are facing over 24 charges among them abuse of office and conspiracy to defraud.
The Kenyan DAILY POST