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MONEY: Your case is in court, liaise with our legal team: KCB

February 5, 2014


Hallo, I was employed by the Kenya Commercial Bank as a cashier-cum-teller on February 13, 1989 . I voluntarily retired on June 15, 2010 . After deducting all the loans and debts I owed my employer, the bank deposited Sh4,161,164.61 in my current account as my retirement benefits. I had taken a loan of Sh1,865,000 on March 12, 2008 , from the bank and despite the money-lender deducting all the dues, it continued withholding my title deed purporting that I still had Sh1,856 debt by virtue of my credit card. In my view, merging credit card and the loan issue was unfair because I believe the two are different. However, it released the title on February 5 , last year. I transferred Sh2 million from my current account to Boresha account in the same bank. To my utter shock, between August 6 and 17, 2010 , I realised that Sh1,098,000 was missing from my current account. I also lost Sh1,076,000 from my Boresha account between August and September 2010 . I suspect that in both cases, I lost the cash through bank fraud. Take for instance: On August 6, 2010 , according to the bank statement, Sh261,000 was withdrawn across the counter and paid to a payee named Florence. As if that was not enough, on August 9, 2010 , Sh119,000 was withdrawn from my current account across the counter but the beneficiary is unknown. On August 17 the same year, Sh100,000 was paid from my current account to one Nguru. These are some of the unauthorised transactions done on my current account. On my Boresha account where I lost Sh1,076,000 my ATM card which I had not collected from the bank was used by other parties in the institution to illegally withdraw money from my account after accessing my PIN number. On lodging the complain, the bank said that I issued blank but signed instruments, for instance, cheques and internal vouchers to its staff whom I purportedly owed money to withdraw the cash from my accounts. As a result of this fraud, five bank staff were axed in April last year. I have requested my former employer to provide me with documentary evidence showing that I owed any of its staff money, but the institution has been unable to do so. In a letter that I sent to the moeny-lender in April 3, 2013 , and which the organisation acknowledged receipt on July 3, 2013 , it denied liability. I had then requested photocopies of the said pay instruments that I had allegedly issued to the bank staff, but my former employer has been unable to provide that as well. There is evidence that I did not request in writing for my Boresha account ATM card yet illegal transactions were executed using my card. In total I lost Sh2,174,000 through fraud which I believe was an internal bank job. Capital Letters, help me get back my money. I am seriously suffering with my family members who entirely rely on me. The business ventures I had started collapsed due to lack of capital yet the bank is denying liability. Alex Mwendo . Thank you, Alex, for getting in touch with us on this matter. It is unfortunate what you have had to go through from the time you voluntarily retired from Kenya Commercial Bank . We got in touch with the financial institution on the matter you have lodged here and it informed us that you have already taken the complain to court and therefore, it cannot discuss it. In addition, the bank has urged you to liaise with its legal team to agree on the way forward. We urge you to allow the law to take its course on the matter. We, however, hope you will get justice and your problem will be solved amicably. Hi Yvonne,My name is Samuel. My beloved brother, Watson Maina , died in 2009. If my memory serves me right, he was a shareholder in a local financial institution. However, the details about how he executed the transaction are scanty since he did not tell anyone, but one thing is clear to me, that the money-lender he invested in was Equity Bank . He bought his shares through the bank's Nyeri branch. I believe that there is something that can be done to reclaim the shares. Help me. Hi Samuel, At Capital Letters, we are sorry for the loss of your brother and we thank you for writing to us seeking the way forward on this matter. We got in touch with the financial institution, Equity Bank , with the transaction which you claim your brother executed. Equity Bank promised to get to the bottom of this issue and help fix your complain without further ado. And true to the organisation's word, last week, we were happy to receive an email from you with information that the bank has been in communication with you. We hope that your matter would be solved soon. We also urge you to keep us informed on the progress of your case.

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Source: Nation (Kenya)

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