Former Family Bank CEO Peter Munyiri with six other top officials were charged at the Milimani law courts in Nairobi on Friday for money laundering.
Munyiri, alongside Charles Kamau Thiongo, Raphael Mutinda Ndunda, Nancy Njambi, Meldon Awino Onyango and Josephine Njeri Wairimu have all been sacked from their respective work places.
They were charged with nine counts including failure to report unusual transactions carried out by the chief suspect of NYS scandal Josephine Kabura, arges they denied.
Each of the suspects was released on a Sh1 million bonds or Sh300,000 cash bail.
As per the charge sheet, the bank officials knew about the suspect dealings in bank accounts belonging to Kabura’s companies namely Forme Builders, All Trading and Reinforced Concrete Technologies.
“Between 22nd December 2014 and 19th May 2015 at Family bank Kenya tea development authority branch in Nairobi, Munyiri and others failed to report suspicious money transactions,” read the charge sheet.
Forme Builders transacted Sh218,850,000, another Sh252,150,000 was moved through All Trading while Reinforced Concrete Technologies received Sh320,160,000, all from the NYS accounts held at the Central Bank of Kenya.
Banking regulations require that any transaction worth Sh1 million be flagged and reported to the CBK if there is reason to believe it is unusual and suspect.
The next mention will be on 20th January, 2017.