The United States Secret Service says that the more than $20 million (Sh2 billion) seized at a Barclays Bank branch in Nairobi in March this year is fake.
The cash, which was in 100 US dollar notes, was seized by detectives from the Directorate of Criminal Investigations (DCI) from a safe deposit box at Barclays Bank Queensway branch.
Gilbert Gunn, an investigative agent with the US Secret Service, said they concluded the cash was counterfeit after examining 13,194 specimen notes worth $1.3 million.
“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),” Guun stated in court papers filed before Justice John Mativo.
Guun said they looked for nine features found in a genuine US dollar note including red and blue fibers, intaglio (raised printing), typographic printing, security thread, and a watermark among others.
Detectives said the safe deposit box was registered under the name of Nairobi businessman Erick Adede.
In an application a few weeks ago, Adede asked the court to compel the DCI to release his money, stating that it is genuine.
While denying that he was a money launderer, Adede accused the DCI of switching his dollar bills with fake notes.
Adede, who is out on Sh1 million bail, was arrested on March 19th, alongside three other suspects named Mohamed Ejaz alias Shah, Mary Wanjiru Mwangi alias Elizabeth Muthoni and Irene Wairimu Kimani.
Adede's co-accused also denied the charges and were freed on a cash bail of Sh300,000 each.
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