The Director of Public Prosecutions (DPP) Noordin Haji has formed a team of special prosecutors to review the files against five local banks over the Sh8 billion in the second National Youth Service (NYS) scandal.
Standard Chartered, Equity Bank, Kenya Commercial Bank, Diamond Trust Bank & Co-operative Bank have been under investigation with regard to criminal culpability.
“I have constituted a team of Special Prosecutors to independently review the respective investigation files and make recommendations within 14 days,” said the DPP
Haji will also focus on individuals and entities who concealed, facilitated, aided, abetted and benefited from the loot.
Standard Charted had the highest amount of looted NYS funds moved, at Sh1.628 billion. Of that, Sh558.58 million was transacted by bank officials who did not alert the Financial Reporting Centre (FRC) of the huge amounts moved as required by law.
The Directorate of Criminal Investigations (DCI) recommended that charges be preferred against the five institutions, bank officials and entities accused of concealing and facilitating, aiding, abetting and benefiting from proceeds of crime.