Following the dramatic events that shocked the country in November 2023 after 2 Wells Fargo employees made away with Sh. 94. 9 million, the security and courier service provider will now have to pay Sh. 80 million to Quickmart supermarket.

This is as per the valuables in transit contract both parties had signed. In February 2024, Quickmart filed for a breach of contract by the company, accusing them of contract breach.

The General Manager at Wells Fargo, Peter Walters, asserted that the firm is ready to make the payment. They will make the payment from an insurance policy they had undertaken with an undisclosed underwriter.

Consequently, Quickmart are set to take a Sh. 14.9 million loss after the policy settles the owed amount.

“I can confirm the defendant (Wells Fargo) is now in a position to make payment of Sh. 80,000,000. The defendant is not liable for the claims of interest and costs of the suit or for any sum over and above Sh. 80,000,000,” said Mr. Walters.

Last year, 2 Wells Fargo employees colluded with police officers to pull off the Sh. 94.9 million heist as they transported the money to the bank. They had come from collecting the money from several Quickmart branches in Nairobi.

Days after the heist, their Wells Fargo vehicle was found dumped in South C. 8 individuals were arrested albeit the 2 main culprits, the crew commander and driver, still at large. DCI sleuths attached to the case managed to recover Sh. 9.1 million.

Sh. 9 million out of Sh. 94 million stolen from Quickmart recovered

On the day the money was stolen, Wells Fargo filed for a claim with its insurance underwriter. The service provider claims to have always kept Quickmart updated on the matter, despite the ongoing legal proceedings.

“Wells Fargo and I were in constant communication with representatives of the plaintiff (Quickmart) and it is not correct that the defendant was unresponsive or uncommunicative.”