Speaking of software loopholes at out local banks, is there any Skunkworks member who benefited from this error at KCB ?I understand that this went on for a while and people ripped big:By mere change of currency symbol, he became a millionaire
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BY WAHOME THUKU
A witness narrated how money was transferred from several banks in thousands of shillings only to be received by another bank in millions.
Some Sh388,400 was allegedly transferred from an account at the Co-operative Bank, Kimathi Street in nine transactions. But when it reached the Kenya Commercial Bank, Moi Avenue branch, through electronic transfer, it was credited into an account as $388,400 (Sh30,295,200).
The Cooperative Bank account belonged to Daniel Ndirangu and the KCB one to Boniface Mwangi Kiiru. The two banks are barely 500 metres apart.
Another Sh28,900 left the same Co-operative Bank account and was credited as $28,900 at Mwangi’s second account held at the KCB, Sarit Centre branch.
The court heard another Sh147,400 was transferred from National Bank, Harambee Avenue branch, in three transactions and all of it credited in Mwangi’s KCB Sarit Centre account as $147,400.
Mwangi is now being tried before Nairobi Chief Magistrate Gilbert Mutembei for stealing $388,400 (Sh30,295,200) from KCB Moi Avenue and $260,800 (Sh20,342,400) from Sarit Centre branch.
This is a cool heist! I love the ingenuity involved. This guy knew and organized his plan well.
BTW, since Kenyan law does not have (maybe now it will have, but I don't know when) a requirement for restitution, if the guys already withdrew the money, then they are "sorted", if you get what I mean. The cases will drag through court and probably some guys "will go in" for a few months but they have already made their money. Locking them up is a nice break for them to sit down and get the money to work for them. A little denial, but who cares, as long as the money is there?