20 Kenyan MPS Linked to Counterfeit Currency Racket

It has now emerged that close to 20 Kenyan Members of Parliament are part of an illegal business involving fake currency and gold.

The MPs have been found to be part of a local and international cartel that has been defrauding unsuspecting individuals and investors out of their hard-earned cash.

After an investigation, The Standard reports that the cartel also comprises of police officers, fast-talking wheeler-dealers, immigration officials, bankers, high-end hotels as well as judicial officers.

The publication reports that the criminal ring books scouts into presidential suites in five-star hotels, where they pose as rich businessmen.

Here, the agents interact with the rich before offering them 'lucrative' business deals. 

Last week, Sh2.6 billion in fake currency was impounded at Barclays Bank Queensway Branch on Nairobi's Mama Ngina Street.

The counterfeit currently, alongside 70 kilos of fake gold, was found inside a safe deposit box.

Four suspects, including the registered owner of the box Eric Otieno Adede, were arrested in connection with the money.

The seizure came weeks after detectives impounded Sh32 billion in fake foreign currency at a residential house in Ruiru town on February 27th.

In October last year, a Chadian national, his son and a Kenyan were arrested after they were found with Sh1 billion in counterfeit US Dollars and Euros.

Two suspects were also arrested at the Jomo Kenyatta International Airport (JKIA) in October 2016 with fake Sh267 million Euro notes.

The Standard reports that the counterfeit currency is printed in bulk in Luthuli, Khoja and Kirinyaga roads in Nairobi.

The publication says the printing joints are equipped with printers and get supplies of vitamin C, iodine liquid, paper cutting machines, and printing papers.