Local financial institution Credit Bank Kenya now risks further tarnishing its already damaged reputation amidst serious allegations of fraud that have raised major concerns among its clientele.
This is after reports emerged regarding a troubling case involving a businesswoman who claims to have lost millions through a series of fraudulent transactions facilitated by insiders connected to the bank.
After depositing Ksh 30 million into her account with the intention of securing a Standby Letter of Credit for her business expansion, she was guided to make further payments totalling Ksh 36.5 million to an alleged agent who presented herself as an intermediary for the necessary banking instruments.
What followed was a shocking betrayal, as this agent, along with purported accomplices within the bank provided her with forged documentation before swiftly siphoning off her funds and leaving her with no recourse.
The businesswoman reported the matter to the Directorate of Criminal Investigations (DCI) and is hoping to raise awareness about the alleged collusion between bank insiders and external fraudsters.
“Dear Cyprian. I have a story that I would like you to bring to the attention of the general public, with the aim of protecting other vulnerable and/or would-be victims from falling into the trap of these fraudsters.
I am a businesswoman working for gain within Nairobi County.
Around April 2024, I aimed to expand my business portfolio to include sugar importation into the country. I confided this ambition to a longtime friend, who happens to be the CEO of Credit Bank Limited, located at One Africa Place, Westlands, by the name of Betty Korir.
I personally paid a courtesy call to her office, where she introduced me to two individuals, Luka Daniel and Kelvin Kahuthu, whom she directed to provide me with necessary assistance, as both were attached to the Trade & Finance Department and thus familiar with the process of securing the requisite financial instruments.
In my discussions, particularly with Luka Daniel, I was advised that I needed to obtain a trade instrument known as a Standby Letter of Credit (SBLC), which he informed me the bank could not provide. However, per his boss Betty Korir’s instructions, he had been directed to introduce me to a third party by the name of Lilian Wangoi Odwoma, who would secure the necessary banking instruments on my behalf.
Luka Daniel explicitly informed me that Lilian Wangoi Odwoma was a customer of Credit Bank Ltd, well known to the CEO, which erased any suspicion on my part, making me feel comfortable and confident in dealing with her.
Around May 2024, with my long-time friend and banker’s endorsement, I deposited Kenya Shillings Thirty Million (Kshs 30,000,000) into my personal account at Credit Bank Limited. This sum was intended to obtain the SBLC through the agent introduced by my banker.
On 20th May 2024, I wrote a cheque for Kshs 30,000,000 in favor of Credit Bank Limited. However, my bankers advised me to cancel it and instead draw it in favor of Lilian Wangoi Odwoma, which I did by amending the cheque accordingly. As a customer of Credit Bank, the bank accepted the cheque despite the alterations.
A further sum of USD 50,000 was also paid to the bank account of Lilian Wangoi Odwoma. This brought the total amount paid to this individual to Thirty-Six Million Five Hundred Thousand (Kshs 36,500,000), intended for securing the SBLC.
Upon making these payments, my predicament began immediately, leading to an ongoing struggle involving all the individuals named above, which I wish to summarize as follows:
I. Upon receiving the stated sum, Lilian Wangoi Odwoma furnished me with fake or forged bank swift details from a bank named Ace Investment Bank, based in Kuala Lumpur, Malaysia.
II. After receiving the swift and confirming it was not a genuine document, I promptly informed my bankers, including CEO Betty Korir, to ensure the remaining funds in Lilian Wangoi Odwoma’s bank account were frozen. However, to my astonishment, Lilian managed to clandestinely empty her account a day after I alerted my bankers of her fraudulent actions.
III. My bankers, whom I trusted, have repeatedly attempted to distance themselves from the matter, though Luka Daniel has consistently maintained that he acted under the instructions of his superior, Betty Korir.
IV. It appears that Betty Korir, Luka Daniel, and Lilian Wangoi Odwoma acted in concert from the onset to defraud me of the amount I had raised through a bank loan from another institution.
V. I have been reliably informed that Lilian Wangoi Odwoma operates out of a building adjacent to One Africa Place, Westlands, where she conducts similar dubious transactions with other women (names withheld), allegedly with the approval of her friend Betty Korir.
VI. Lilian Wangoi Odwoma (0702 556635) resides in Muiri Meadows, Karen, off Kerarapon Drive. I have attached her image for clarity.
I have since registered my complaint with the Directorate of Criminal Investigations, and the matter is under investigation. However, I am keen to have this information widely circulated in hopes that it will encourage other law-abiding citizens to share their experiences with these individuals, potentially preventing similar actions in the future and safeguarding the reputation of an institution like Credit Bank, which is working to establish itself in the corporate field.
Thank you.”
KenyanHour 