A Nairobi court has ruled that former Family Bank CEO Peter Munyiri has a case to answer for failing to report suspicious transactions in the Ksh.791 million National Youth Service money laundering case.
Chief Magistrate Francis Andayi in his ruling said that only four suspects among the six who were charged were found with a case to answer.
“Having analyzed the evidence before the court, I found that the prosecution has proved its case against Munyiri, second, third and fourth accused”, Andayi ruled.
Mr Munyiri, who is aspiring to be the next Nyeri County Governor, was charged alongside other six senior bank employees for not reporting suspicious bank transactions carried out by the main NYS scandal suspect Josephine Kabura.
Section 44 of the Proceeds of Crime and Anti Money Laundering Act requires that transactions of that nature be reported to the FRC immediately within seven days of activity considered to be suspicious.
Peter Munyiri was the linkman to the politicians and shadowy figures around NYS who would call him directly anytime they needed the looted NYS bucks withdrawn.
All these transactions were done against very crystal clear Central Bank of Kenya prudential guidelines and Peter Munyiri personally authorized them to pass through Family Bank so that the stolen funds would be shared between the involved politicians and the mob. In return, Peter Munyiri as CEO Personally received huge cash payments in brown envelopes as facilitation.
This was not the first time Peter Munyiri had been crooked. At Kenya Commercial Bank, Where he was the Deputy CEO to Martin Oduor, and before his attempts to throw out Martin Oduor exploded, He had micromanaged the Triton Scandal. In the Triton Scandal, Munyiri also received millions of shillings from the now fugitive Devani and an all-expenses-paid holiday for himself and his family in Dubai, as a Bonus. The Board at KCB was quick enough to see his schemes. They had to cut short his tenure and paved the way for Mr Joshua Oigara to clean up Peter Munyiri’s mess.
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