HomeNews & UpdatesNandi Hills MP Alfred Keter arrested by Anti Banking Fraud Unit

Nandi Hills MP Alfred Keter arrested by Anti Banking Fraud Unit

Nandi Hills Mp Alfred Keter and two others were arrested today at around 11 Am for forgery of treasury bills worth over 633 million.

Hon.Alfred Keter was arrested alongside Madat Suburali and Ingolo Sakwa at the Cental Bank of Kenya Headquaters in Nairobi.

Treasurery Bills are  short-term promissory notes issued by national governments as to regulate money supply and raising funds via open markets.

Mr Sakwa and Mr Madat are directors of Desai Industries and were arrested for allegedly presenting the forged treasury bills purportedly issued by the CBK in the 1990s.

Treasusry bills are issue by the Central Bank and mature within a year,pay no explicit interest but are sold at a discount.There yield is the difference between the purchase price and the par value.

The CBK has been complaining over the years of fraudulent businessmen who seek to benefit from the treasury bills. 

Slavian Mwangecho
Passionate blogger on a day to day activities happening in Kenya, Africa and around the world. A keen follower of the latest news making headlines around the world

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