Family Bank of Kenya Suspends 9 Workers in Corruption Probeby
Family Bank Ltd., a closely held Kenyan lender, said nine employees have “exited” the company until they are cleared by state authorities of involvement in a graft scandal that is under investigation.
“It is a stance that is tough but necessary to ensure strict compliance with our fiduciary duties to all our stakeholders,” the Nairobi-based lender said in a newspaper statement today.
Last month, the state prosecutor ordered investigators to interrogate the seven and establish whether they facilitated, aided or abetted the theft of 791 million shillings ($7.7 million) from the state-run National Youth Service. The director of public prosecution also asked that a probe on whether the lender failed to comply with banking and anti-money laundering laws be carried out by the Financial Reporting Center and the central bank.