Court denies Ksh 112B fake currency suspects bail

Court denies Ksh 112B fake currency suspects bail

Two foreigners who had been arrested with 112 billion shillings in fake foreign currencies have been denied bail by a Nairobi Court.

Nairobi Milimani Chief Magistrate Daniel Ogembo denied the two foreigners bail saying the prosecution had proved that the case facing the two is serious and a threat to the country’s economic security.

The two; Ousman Ibrahim Bako, a Cameroonian and Mohamed Sani alias Dr. Mustafa from Niger were arrested a week ago in Nairobi’s Kilimani and South B suburbs.

After the arrest, the Inspector General of Police Joseph Boinnet said that police had received an intelligence report from an individual that some persons had been conned over Ksh 40 million purportedly in exchange of foreign currency that was shipped from Syria.

The police boss also added that the two are kingpins suspected of coordinating a Trans National Counterfeit Hard Currency ring aimed at fleecing unsuspecting persons.

Boinnet said if the fake currency had been released into circulation, its impact would have been major.

Money printing machines, money cutters, scanners, 5 safes, 2 computers, chemicals, masks and foil paper were among the things recovered from the houses of the two.

The accused persons will now remain in custody until the case is determined.

The case will be mentioned on the 9th of March 2016.