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Saturday, January 25, 2020

Man who deposited Sh. 5 million stolen cash in his bank accounts monthly

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Thieves in Kenya: A shocking revelation has been made on how a civil servant at the Ministry of Interior Security managed to deposit an average of Sh. 5 million every month in his 10 bank accounts.

A report that appeared in the Business Daily says that Thomas Gitau Njogu, a senior assistant accountant general, accumulated property worth Sh. 115 million in less than two years without once touching his salary.

“Mr Gitau has a posh house in Nairobi’s Thome estate worth Sh. 27 million, a Sh. 26 million property in Kitengela, Sh. 17.5 million apartments in Kabete, another piece of land in Kabete and cash deposits of Sh. 89.1 million made in 10 accounts at Family Bank, Equity Bank and Co-operative Bank of Kenya” says the report. “Mr Gitau and his wife Teresia Njeri will now have to forfeit all these properties worth Sh. 115.8 million after the EACC proved that they are the proceeds of corruption and theft.”

I quit my bank manager job to help my husband with his business

The report says that all the deposits were in batches of less than Sh. 1 million to escape the legal requirements that demand banks report to the Central Bank of Kenya all transactions above Sh. 1 million.

“The plaintiff’s claim of Sh. 108,678,542.29 translates to an income of Sh. 5,775,138.65 per month during the period of interest, which represents an exceedingly steep increment in the first defendant’s revenue over a relatively short period,” said the EACC. “It should not be lost on this Honourable Court that this quantum leap coincided with his appointment to the position of Senior Assistant Accountant General at the State Department for Interior and Co-ordination of National Government.”

The report further says:

“Mr Gitau and his wife incorporated a limited liability company, Njegit Investments Limited, on February 2, 2017 and used it to purchase property worth Sh. 53.6 million and a motor vehicle worth Sh. 624,000. All this had happened within six months, when EACC commenced its investigations in August 2017. Mr Gitau’s earnings totaled to Sh. 1,893,414, within the period that he was being investigated. The commission further told the court that he did not make any withdrawals from his salary account during the investigation period. And within the said period, he had made cash deposits of Sh. 89,160,542, money that was deposited in different bank accounts at various branches in Kasarani, Harambee Avenue, Kariobangi, Kitengela and Zimmerman among others.” Thieves in Kenya.

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