Four suspects arrested by the flying squad in connection to the Barclays Bank fake currency scandal of 2 billion were on Tuesday released.
Appearing before Nairobi Chief Magistrate Francis Andayi the four were charged with the possession of papers to resemble and pass as currency and conspiracy to defraud.
The four suspects namely Erick Adede, Ahmed Shah, Elizabeth Muthoni and Wairimu Kimani pleaded not guilty to the charges.
Erick Adede the owner of the safe box was released on a Ksh 1 million cash bail while the other co-accused were all released on a Ksh 300,000 cash bail.
Initial requests by the prosecution to deny bail the four suspects was denied by Magistrate Andayi on grounds that their argument was not compelling.
Barclay Bank fake currency day arrest
The four were arrested on 19th March outside Barclays Bank by the flying squad with an investigation revealing fake currency amounting to Ksh 2 billion.
Also included inside the safe box was fake gold with Barclays Bank staff arrested during the ambush.
In a statement to the general public, Barclays Bank assured its customers of complying with the investigation and that all money dispensed at the counter or ATM was not fake.
They further revealed another safe box belong to suspect Erick Adede vowing to check into the contents of the safe boxes held with the bank.