Deputy President William Ruto is the one protecting KCB Bank CEO Joshua Oigara from prosecution as he launders money for him through the bank.
This blog has learnt that Oigara who is mentioned in many financial crimes has been spared curt and jail because of his association with the second most powerful guy in the country.
Despite The Sentry report accusing the bank CEO of money laundering, funding wars in South Sudan and making illicit financial transfers, Joshua Oigara remains untouched even by the industry regulator Central Bank Of Kenya (CBK).
Also, president Uhuru Kenyatta and senior security officials are not happy with the way the bank is being used to launder money from public coffers even as the president tries to leave a legacy by nailing a few bigwigs in the anti-corruption purge.
The Kenya Commercial Bank CEO has been linked to money laundering as the KCB battles to sanitize its image as a clean banking institution. But recent events have exposed the bank as a money laundering outfit with the Wajir KCB branch manager being arrested by the EACC over money laundering and fraud. He was freed on a Ksh. 1 Million Cash bail.
The Migori KCB Bank Branch manager is also under the radar as EACC Probes him for aiding money laundering running into billions of shillings. He helped open fictitious accounts for the corrupt officials.
According to sources, money laundering and fraud is a culture within the KCB even as they bankroll the media with millions in advertising gigs to be mute about the scandals. A spot check on social media reveals dissatisfied customers and various scandals exposed on a daily basis.
Despite petition to have Oigara removed and prosecuted, the CEO has stayed on guarded by the powerful forces of corruption emanating from the DP’s office.
Partnership over a hotel
The land that Weston Hotel sits on was unlawfully acquired from the Kenya Civil Aviation Authority (KCCA) and during the issuance of these loans by KCB, the land’s title deed was not presented. This would, therefore, mean that Joshua Oigara issued a Ksh. 1.2 billion loan against an inexistent title deed.
Considering such huge loans cannot be issued without the official approvals of KCB C.E.O and Group M.D, the blame is solely on Oigara and the group’s managing director who colluded with other top government officials to award Weston Hotel these loans without following due diligence at the expense of taxpayers.
Sensing imminent arrest, the KCB CEO has sought for protection from the DP who has told him not to be worried for he will take care of everything.