Sh1.5 Billion Equity Bank Heist Probe Takes Dramatic Turn
The investigation into the Sh1.5 billion Equity Bank heist has been elevated to the Directorate of Criminal Investigations (DCI) headquarters. The theft, which took place on July 10, coincided with another high-profile bank fraud incident.
The probe into Equity’s Sh1.5 billion payroll heist has been transferred from the Banking Fraud Investigations Unit, based at CBK Towers, to the DCI headquarters on Kiambu Road for closer monitoring by DCI boss Mohammed Amin, Nation.Africa has learned.
It has also been revealed that the heavily armed assailants who raided the Murang’a residence of a key suspect were operatives from the elite National Intelligence Service (NIS) unit.
Late last Sunday night, around 11 pm, hooded gunmen clad in fatigues and armed with assault rifles stormed the Mathioya home of Peter Kimani Machiri.
The former MCA is the father of David Machiri Kimani, Equity Bank’s manager at the Group Processing Centre, Salary Processing Unit, whose credentials, according to detectives, were used to execute 47 transactions totaling Sh1,545,887,140.49.
Questions have been raised about why NIS agents are involved in a fraud case typically under the jurisdiction of local DCI and police officers.
Interestingly, on July 10—the same day as the Equity Bank heist—a senior government official reportedly asked NIS detectives to probe the theft of funds from his account.
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Sources indicate that the brief given to top NIS officials at Ruaraka headquarters stated that unknown individuals had hacked the senior official’s account and siphoned off funds.
According to insiders, $8 million vanished from the account, converted into bitcoins, and moved into multiple offshore accounts. However, it remains unclear if the two incidents are connected.
In Equity Bank’s case, court documents reveal that on July 10, the bank’s internal control department identified a series of suspicious transactions from its payroll account.
The DCI reports that 47 withdrawals were made from the payroll account, with the funds rapidly transferred to various accounts in other banks.
None of the transactions had corresponding credits from the sources, triggering alarms within the internal controls team that was reviewing the transactions for confirmation.
By the time the transactions were completed, Sh1.5 billion had been siphoned out of Equity Bank.
On July 11, the bank’s Head of Security, Kevin Mwangi, reported the incident to the Banking Fraud Investigation Unit at the DCI.
Machiri, the manager whose digital footprints were linked to the transactions, was summoned to provide a statement to the police.
ALSO READ: Details of Sh1.5B Equity Bank Heist Behind the Abduction of Manager and His Father: Inside the Daring Fraud Scheme
According to an affidavit filed at the Milimani Law Court on July 12 by Inspector Boniface Maina from the DCI Banking Fraud Investigations Unit, Machiri was on leave when the suspicious activities were first noticed.
The DCI sought court approval to detain Machiri for 21 days to allow further investigation.
However, the court rejected the application, granting Machiri bail instead.
Earlier last Sunday, Machiri was reportedly abducted by another group of hooded men from his home in Thogoto, Kiambu.
Later that night, the armed men raided his father’s home in an operation captured on video. Both father and son have since disappeared.
Kikuyu Police Boss Ronald Kirui informed Nation.Africa that no reports had been filed regarding the abductions.
“We don’t have any such report in our police stations in Kiambu,” Kirui stated.
Some of the assailants were seen carrying gas cylinders, allegedly used to force entry into the house.
The family said that over 10 gunmen switched off the electricity before forcing Machiri into a vehicle and fleeing.
Nancy Wambui, the wife of the missing politician, told the media that hours before the night raid, the couple had spent the day at church.
“We had just gone to bed when the dogs began barking aggressively, making us curious about what was happening outside.”
Wambui said the dogs were barking at the intruders attempting to break down their gate.
Last Thursday, the family’s lawyer, Ndegwa Njiru, petitioned the court to compel authorities to produce his clients.
During the court session, the Director of Public Prosecutions also applied for an arrest warrant against the Equity Bank manager, Machiri.
Sh1.5 Billion Equity Bank Heist Probe Takes Dramatic Turn
