Family Bank to Pay Kshs 64 Million Over NYS Transaction Scandals

Family bank has now gotten into the NYS scandal. The bank has been fined Ksh 64 million for allegedly carrying out transactions got from the National Youth Service (NYS). 

The bank has been charged with six counts of failure for holding transactions made by the suspects’ involved in the scandal. This includes Josephine Kabura. The bank is supposed to plead guilty to all these six charges.

“The accused person is entering into this plea Agreement and is pleading guilty freely and voluntarily without promise or behalf of any kind,” reads the plea agreement. 

The banks is supposed to pay a fine of 64.5 million that has been divided as follows.

Ksh 24.5 million is supposed to be paid to the NYS account while Ksh 40 million is supposed to be court fine. The plea agreement also reads that if the Bank refuses to comply with the conditions, it will be charged guilty with all the six crimes and criminal charges will be brought against it. 

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