When Central Bank of Kenya this week finally revealing that it forced the sacking of nine Family Bank middle level managers who colluded with CEO Peter Munyiri to rip the economy billions of shillings through a money laundering racket which has forced CBK to penalize Family Bank with maximum charge of sh1 million, what remains to be seen is what happens to Peter Munyiri himself.
He may have been sacked; but that shouldn’t be the end of bringing financial racketeers to justice. Central Bank has now recommended the Financial Reporting Centre which has the power to prosecute bank executives found culpable in money laundering to take action.
Family Bank insiders say Peter Munyiri was the central player in the money laundering scam. It is him who authorised illicit money flows in and out of the Bank; and he benefitted immensely, earning him recognition at Muthaiga Golf Club where his fellow Kikuyu scammers meet to discuss how to loot and keep the rest of Kenyans in perpetual rigged economy; and, abject poverty.
As this blog already revealed, Peter Munyiri was denied entry into the more elite Karen Golf Club reserved for Kenya’s who-is-who in the Military, business, and political cycles. Karen Golf once blacklisted Former Vice President Kalonzo Musyoka as a defaulter, embarrassing in a full page advert.
Interestingly, while Munyiri easily got admission at Muthaiga, Keroche CEO Tabitha Karanja, a real entrepreneur, was denied entry. She didn’t qualify because she wasn’t a thief.
We’ve also in the past told you that Peter Munyiri always wanted to be a player in the larger scheme of things. He was always in the race of catching up; having been left behind by his peers. Employees say he hated being kept ‘waiting’, for he had waited all his life for a big break, which he got when Uhuru came to power and accountability became an enemy of the state.
Before he headed Family Bank, and used it to money launder, he once attempted to carry a bloodless coup at Kenya Commercial Bank where he hoped to topple Martin Otieno-Oduor. He had just pulled the Triton Saga together with now fugitive Yagnesh Devani and had got millions in return, plus a well-deserved holiday in Dubai.
When he returned, he was quickly sacked by KCB board which led to the elevation of Joshua Oigara, the current head who has now added another feather in his cap by successfully stabilizing Chase Bank; another money laundering outfit that almost collapsed under heavy hemorrhage by Munyiri’s robber friends.
At Family Bank, Munyuri quickly turned the institution as a conduit for illicit money flows, and attracted the attention of those like Ben Gethi who were now swimming in government millions wired through a porous IFMIS system that was designed to skim the public of their taxes. Other clients of Family Bank included Nairobi City County; where it was reported the governor receives at least sh20 million each day an escrow account with the bank.
Jubilee hatchet man and ‘political scientist’ also used the Bank to dump millions of shillings he got for posting anti-Raila tweets.
Read Part 1 here.