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Ex-Bank’s General Manager in DCI radar over fraud

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Francis Ng’ang’a, the former general manager of now collapsed bank, Rural-Urban Credit bank is a man on the run as directorate of criminal investigation -DCI has proffered criminal prosecution for against him over forgery and conspiracy that saw the bank sink and ultimately collapsed.

According to the detectives, Mr. Ng’ang’a used the dead company as a conduit to grab piece of land valued at sh. 3 billion in Nairobi’s affluent suburb, Runda.

Detectivesargue that in his capacity as the then general manager of Rural-Urban Credit bank, Ng’ang’a forged documents in bid to takeover William & Kennedy Ltd more than 3 decades ago in 1983 and as a result claimed the acquisition gave him ownership of 16.7 acres.

Mr. Ng’ang’a in conjunction with his wife Amy Kagendo fraudulently transferred shares of William & Kennedy Ltd and manufactured title deed to show company owned the parcel. The company was reportedly wound down by owners in 1973 and the DCI report terms transfer masterminded by Mr. Ng’ang’a and his wife Amy Kagendo as fraudulent and based on forged signatures of lands ministry officials.

Mr. Ng’ang’a according to court documents used controversial land as guarantee to acquire loans in Postbank and collapsed Rural-Urban Credit bank in 1992 and 1983 respectively. Postbank credit pursued Ng’ang’a who in turn acquired injunction stopping land sale.

“The architect of fraud and illegality and the resurrection of ‘new’ William & Kennedy Ltd was none other than Francis Ng’ang’a’” reads DCI report submitted to office of attorney general in preparation to defense in court over land’s ownership.

DCI now wants to proffer 4 counts of forging annual returns, making fraudulent changes in company’s William & Kennedy Ltd, registry, conspiracy to commit felony, obtaining money by false pretense and two counts of uttering a document with intent to commit fraud to Mr. Ng’ang’a.

Company secretary Mr. koimburi could be charged with false assumption of authority, four counts of forging annual returns and uttering a document with intent to commit fraud while Ms. Kagendo will be charged with two counts of making false notification of change in company’s secretary at the company registry, forging annual returns and uttering a document with intent to commit fraud.

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