NYS Probe: More Than 100 Bank Accounts Belonging to Suspects Frozen

More than 100 bank accounts belonging to companies and suspects implicated in the multi-billion National Youth Service (NYS) scandal have been frozen.

This comes after a Nairobi Magistrate’s Court issued orders directing banks hosting the accounts in question to preserve all the cash deposited in them for a period of six months.

The orders were issued on Friday after the Asset Recovery Agency Investigating Officer Frederick Musyoki lodged an urgent application seeking freezing orders.

“I pray for order to investigate the above accounts to enable me access information and documents relating to the said accounts and use for purposes of investigations,” stated Musyoki in his application.

The officer argued that the suspects are likely to withdraw or transfer all the money in the bank accounts and frustrate the ongoing probe and recovery of the lost funds.

 “Whereas it has been proved to me on oath that for the purpose of an investigation into the commission of offense of money laundering and tracing of proceeds, an order of production to inspect the books of accounts relating to the accounts should be and is hereby granted,” the court directed.

Among suspects whose accounts have been frozen include Ann Ngrita’s held at Unaitas Sacco Microfinance Bank and those of her kin held at the KCB and Stanbic Bank in the names of Ngirita Phyllis, Wambui Lucy and Jeremiah Gichini respectively.

Of the 100 accounts frozen, Equity Bank has most with 26, followed by Cooperative Bank (20) Standard Chartered (15), Barclay’s Bank (8), KCB Bank (9), Family and National banks with 5 each.

Other accounts are held in Consolidated, Guaranty, HFC, Stanbic , Diamond Trust, Consolidated, CFC Stanbic, Credit, Eco, I&M and National Industrial Credit Bank.