Detectives Uncover How a Kenyan Stole Sh400 Million From Bank in Zambia

The Office of the Director of Public Prosecution (ODPP) has successfully obtained a court order to extradite a Kenyan citizen to Zambia.

At the Milimani Court on Tuesday, Chief Magistrate Lucas Onyina delivered a verdict on the accusations of fraud against a person identified as Wambua by the Office of the Director of Public Prosecutions (ODPP). The allegations revolved around the transfer of Sh407 Million ($2,700,000), out of the Intermarket Bank suspense account to a range of unidentified bank customers. According to the ODPP, Wambua facilitated these transactions, directing sums to the beneficiaries between October 1, 2010, and May 30, 2011.

After evaluating the extradition request made by Zambia, the ODPP determined that it met the prescribed legal prerequisites explained in section 7(1) of the Extradition Act, Cap 77 of the Laws of Kenya. The ODPP carried out their legal obligations and promptly notified the bank upon recognizing that the request was lawful.

After withdrawing the funds from the indicated accounts, the suspects divided the amount with Wambua who had initially deposited them. According to finance specialists, the fraud referred to as a suspense account entails an individual forging a transfer to a suspense account with the intent to deceive a financial institution. A suspense account serves as a temporary record for entries and discrepancies while awaiting the transfer of funds.

Suspense accounts utilized for loans, money transfers, refunds, and interdepartmental transfers are prime targets for fraudsters. If a criminal on the run is caught, the Extradition Act authorizes them to acquire legal representation. Additionally, this act permits Kenya to extradite its own citizens who are accused of committing a crime in another country that wishes to press charges.