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KSh2 Billion Seized In Barclays Bank Safe Box Is Fake – US Secret Service

Fake currency [PHOTO/ COURTESY]

The United States secret service has revealed that Ksh2 billion, in US dollars, seized at the Queens Way Barclays branch in March is fake.

According to reports by The Standard, the Secret Service reached at the conclusion after examining 13,194 specimen notes sent to them and worth 1.3 million dollars (Sh131 million) by the office of the Directorate of Criminal Investigations.

In papers filed before Justice John Mativo, the examination was carried out on April 2, by Gilbert Gunn, an investigative agent with the US law enforcement agency.

Read: Adede Man Behind Barclays ‘Fake’ Sh2 Billion Now Wants DCI To Produce It In Court, Claims It’s Genuine

The officer concluded that the notes lacked US dollars security features.

“My examination of the above 13,194 specimens determined that they are counterfeit because they do not contain authentic features that are found on the US 100 Federal Reserve Notes (1996 and 2004 style),” said Gunn in his reply dated April 9.

The examination focused on 9 key features of genuine US dollars.

Also Read: Suspects Behind Sh2 Billion Fake Currency Busted At Barclays Bank Freed On Bail

The first feature checked was the red and blue fibre on the US currency.

Gunn also gave an in-depth analysis of Intaglio (raised) printing, typographic printing, security thread, watermark, colour shifting ink then microprinting features.

Finally, a special examination was carried out on two special features only in the 2004 style dollar – 3D security ribbon and a colour shifting bell in the Inkwell.

Also Read: DCI Officers Nab Millions Of Fake Currency, 100Kgs Of Fake Gold In Nairobi

“These security features mentioned above from one through nine are applicable to a genuine 2004 style USD 100 note. The security features mentioned above from through one to seven are applicable to a genuine 1996 style USD 100 notes,” he said.

In its report, the DCI had also revealed that the currency was fake after an examination by Iranda Masiko, a forensic expert.

The DCI examination was carried out on April 15.

Also Read: Suspects Behind Sh2 Billion Fake Currency Busted At Barclays Bank Freed On Bail

Eric Adede, the owner of the safe box which contained the currency, had applied to have the DCI compelled to produce the cash in court claiming it was genuine.

Through his lawyers, Adede argues that the DCI is illegally holding and has continued to withhold the said sums of money that do not form a part of the charges in the criminal case.

“It is just and equitable that the applicant be heard on a priority basis so that his grievances be remedied without delay,” said his lawyer Martin Oloo.

Also Read: 20 MPs Among State Officers Making Billions From Counterfeit Currency Business

Adede, who is out on Ksh1 million bail, was arrested on March 19, alongside traders Mohamed Ejaz alias Shah, Mary Wanjiru Mwangi alias Elizabeth Muthoni and Irene Wairimu Kimani.

They denied charges leveled against them and were released on bail.

His co-accused were granted a cash bail of Sh300,000 each.

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Wycliffe

Written by Wycliffe

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