As if all corrupt companies were marked for falling this year, Family bank and the National bank have decided to quickly follow the Nairobi Hospital in mismanagement and embezzlement scandals.
All is now not pretty at the helm of National Bank as executive members of the bank are snitching one another in their dirty dealings at the bank.
Latest to be exposed is Reuben Koech, Director Corporate Banking and Joseph Kering, the Chair of Board Credit Committee.
The two are said to have engineered loss of billions from the bank, and as if that is not enough, following ‘loaded’ customers of the bank to arm twist them for kickbacks for them to secure loans.
In the latest case, which that could be term as a heist, the two cost the bank a total of Ksh1.5 billion in bad loan through coast-based businessman Ben Muiruri Gitonga. The two further swindled Gitonga millions of money, in a bid to straighten things for him after things went south.
In the first incidence, Koech demanded a Ksh15 million kickback from Gitonga, but ended up receiving Ksh10 million in batches of Ksh5 million, Ksh3 million and Ksh2 million.
Gitonga is the owner of the General Mills East Africa Ltd, a maize & wheat trading company. He was seeking the Ksh1.3 billion loan towards the establishment of a milling plant in Mariakani, Kokotoni Area.
The mill would have had five huge Silos, five huge warehouses with capacity equal to that of Kenya Cereals and Produce Board fully installed with modern day milling machinery. However, as fate would have it, the loan was self-destructive for Gitonga.
He received the first batch of the loan, Ksh500 million less from the full amount. This is where trouble began. Being the chair of the credit committee, Kering withheld the remaining amount, with the intend of getting kickbacks.
They knew very well that by messing up Mr Gitonga, he would completely at their mercy after being listed with CRB because he could not be able to get any loan anywhere to salvage his project.
They twisted him with so many cunning ideas and moves until when they were done Gitonga, he was listed as a defaulter by Transunion and could not get a loan anywhere to salvage his project after intentionally being screwed up by the two officials.
This was done to so many clients until the criminals started playing themselves and the angry ones exposed the deals in revenge.
Are you a banker at the National bank?If you are now you know.