Connect with us

Hi, what are you looking for?

Capital News


I was arrested in the process of trying to protect the public’s interests: Keter

In a press release, Keter explained that he’d simply been assisting the Directors of Desai industries/FILE

NAIROBI, Kenya, Feb 18 – Nandi Hills MP Alfred Keter has denied allegations that he presented forged Treasury Bills worth Sh633 million to the Central Bank of Kenya (CBK).

In a statement, the legislator criticised the manner in which his arrest was handled last week saying he was at the CBK at the invitation of Governor Patrick Njoroge.

He accused the “well-connected individuals” working at CBK who were behind his arrest of attempting to cover-up a fraud committed against Desai Industries.

“I am convinced that my arrest and subsequent humiliation before the media was purposefully designed to cover up the fraud committed against Desai Industries owners,” he said.

Keter added that his political detractors reveling in humiliating him as a political leader are also behind his woes.

The MP further denied any links to the company whose directors Madat Chatur and Arthur Sakwa were also arrested by Banking Fraud detectives.

“I am neither a director nor a shareholder of Desai Industries on whose behalf the Treasury Bills were presented. Why then was I arrested?” he posed.

The legislator added that CBK should be questioned on the matter following its letter to Desai on July 10, 2017 which stated that the bills had been paid.

The letter signed by Jeremiah Tomno and John Njau, states that, “After a perusal of our records, the Treasury Bills in question have been redeemed and proceeds therefrom paid in full.”

Advertisement. Scroll to continue reading.

“Evidenced by the letters from the Central Bank, the T-bills no. 1138 and 1148 were legally so issued and were ostensibly so redeemed. At what point did they become fictitious if the same had been procedurally redeemed?” Keter stated “Moreover, if CBK was communicating with Desai Industries, why did they not deem fit to arrest the said directors as early as July 2017?”

He stated that the bank only chose to involve the police after he raised questions over the payments.

“The most fundamental question however remains, who was the beneficiary of redemption of Treasury Bills No. 1138 and 1148. When was this amount paid, to which bank account, and for what value?” he said.

The MP said he will not relent in the fight to ensure Kenyans investing in the country are not exploited and their rights infringed upon at will by the state.

“This, I vow to continue even if my actions will lead to such unprocedural arrests and detentions. I will not relent. I refuse to be intimidated and will not be cowed by those who seek to exploit Kenyans with impunity,” he said.

The directors, who Keter says were out of the country hence the delay in processing the February 1990 Treasury Bills, started pursuing the payments on July 4, 2017.

Subsequent correspondences were issued by the bank on July 10 before the aggrieved parties engaged a lawyer who wrote to CBK on August 18 and also on August 23, 2017.

Advertisement. Scroll to continue reading.
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *


More on Capital News