The detectives of Kenya’s Directorate of Criminal Investigations (DCI) in Kilimani, Kenya have arrested two men found to be in possession of fake currencies worth Sh750million.
The men identified as Samuel Maina and Boniface Mungai were arrested from an apartment in Kilimani area where they had kept the fake monies in Kenyan, US and Euro bills.
It was gathered that the money was kept in metal boxes, as Police also recovered chemicals and fake badges bearing names of UN, Della Rue, National Treasury and several safes.
According to Nairobi Police boss, Augustine Nthumbi, “bags, machines, two bottles and jerrycan containing unknown liquid, assorted documents, customs reflector jackets, stickers and stamps for various offices with their seal were recovered.
“The fake money recovered was in US Dollars of 100 bills amounting to 6,820,000 US Dollars, fake Euros 100 bills totaling to 490,000 Euros and fake Kenya shillings note of 1000 denomination totaling Sh6.4 million. Police suspected the men were planning to con unsuspecting customer or banks.
“We are investigating to establish if any of the fake currency had circulated into the market. We warn anyone against handling such money. It is criminal and has a bad impact on the economy.”
Security Watch Africa reports that dozens of suspects have in the past years been arrested in connection with the incidents and charged in court.
In September 2019, Sh300million fake money was found abandoned on the roadside along Ngong Road, Nairobi.
In May 2019, nine suspects were arrested in Kilimani area and fake Sh190 million ($1.9M) recovered from them.
Police investigations show counterfeit bank notes remain the top form of fraud for the increasingly growing mobile money and bank agents in Kenya.
In June 2017 Central Bank of Kenya (CBK) acknowledged the possibility of a transnational fake currency ring in Nairobi and the region.