Man in Sh2 billion fake currency fraud scheme vied for parliamentary seat

By Brian Ukaya | Wednesday, Mar 20th 2019 at 10:55
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A man who was part of the Sh2 billion fake currency scheme that was unraveled yesterday at Barclays bank, Queensway branch, had earlier vied for a parliamentary seat in the 2017 general elections.

Dr Eric Adede who is said to be the owner of the box had vied for the Homa Bay Town Constituency seat but lost to Peter Kaluma.

Identities of other suspects being held in connection to the fake currency syndicate are Ahmed Shah, who was posing as an investor, accomplices Elizabeth Muthoni and Irene Wairimu Kimani as well as Boaz Ochich and Charles Manzi who are bank officials.

A corporate executive almost fell victim to the fraudsters who had stashed fake Sh2 billion in a city bank.

Police now say they have established the four suspects were part of an international syndicate that had been conning unsuspecting investors using the fake money.

They lure the investors to the bank’s hall and show them the box containing the money to convince them that the money was real and that they were serious investors.

They then tell their targets that they wanted to invest in multi-million oil and gold projects.

“We suspect there are many others out there who have been conned this way but are afraid of speaking out,” said a police officer who sort anonymity.

The Sh2 billion fake currency scheme discovery comes weeks after investigators found Sh32.6 billion in fake foreign currency and gold in Ruiru, Kiambu County.

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