Ksh2 Billion Fake Cash Suspects Released

  • Four suspected cons who were arrested in connection with the fake Ksh2 billion and suspected fake gold that was discovered in safe deposit boxes at the Barclays bank Queensway branch have been released.

    They had appeared before Nairobi Chief Magistrate Francis Andayi, the accused Erick AdedeAhmed ShahIrene Wairimu Kimani, and Elizabeth Muthoni were charged with conspiracy to defraud, being in possession of papers intended to resemble and pass as currency and being in possession of minerals.

    They denied all the charges and were set free on bail.

    Eric Adede and three other suspects in the Barclays fake money saga

    Magistrate Andayi set the bail at Ksh1 million for Adede and Ksh300,000 for the other four co-accused.

    Andayi stated that the argument forwarded by the prosecution was not compelling enough to warrant them being denied bail. This is after the prosecution argued that they needed to prepare an affidavit.

    The Magistrate went on to state that the conspiracy charge slapped on all except Adede was a misdemeanor charge and the prosecution did not show any intention of adding any more charges.

    The accused were charged that on March 19, 2019, at Barclays Bank Queens way branch in Nairobi, they conspired with intent to defraud, by falsely pretending they were carrying on a genuine business as an investment in Nairobi with Muriithi Materi Mbuthia, who would remit to them Ksh20 million.

    Adede faced an additional charge that “on March 19, 2019, in Nairobi County, without lawful authority or excuse, knowingly had in his custody US dollars 20,067,900 papers intended to resemble and pass as currency notes.”

    He was further accused of being found in possession of 41.373 kilograms of brass in contravention of the Mining Act.

    Erick Adede the owner of the safe deposit box found with fake money


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