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Former Family Bank boss to know fate on NYS scam

BUSINESS
By Dominic Omondi | Apr 15th 2022 | 1 min read
By Dominic Omondi | April 15th 2022
BUSINESS
Former Family Bank CEO Peter Munyiri. [Courtesy]

Former Family Bank Chief Executive Mr Peter Munyiri will know his fate over the Sh791 million National Youth Service (NYS) money laundering scandal on Wednesday next week.

The High Court in Nairobi is expected to make a ruling on whether Mr Munyiri, a Nyeri governor aspirant, and other former employees of Family Bank have a case to answer.

The accused told the court the Director of Public Prosecutions had failed to prove a prima facie case against him. “I would like to make an application for all the accused persons. I will be asking this court to acquit my client and his co-accused under Section 210 of the Constitution. The DPP has failed to prove a case against them. The charges against them are bad in law,” said lawyer Mr Kioko Kilukumi.

The prosecution closed its case against Mr Munyiri and his co-accused where it called six witnesses, including some from Central Bank.

Mr Munyiri was charged alongside other six senior bank employees for allegedly failing to report unusual transactions carried out by the chief NYS suspect Ms Josephine Kabura Irungu’s three bank accounts.

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