Mohamed Mustaf Adan has been charged with stealing Sh4,199,445.85, the property of DIB Bank, between August 20 and August 22, 2024, at an undisclosed location in Kenya, allegedly working with individuals not before the court. He also faces a second charge for the unlawful acquisition of proceeds of crime.
The court was informed that on August 20, 2024, within the country, he acquired Sh 824,388.03, and at the time of the said acquisition, he knew that the money was the proceeds of crime, which money was received through stealing.
He faced an alternative count of possession of the proceeds of crime contrary to section 4(a) as read with section 16 of the Proceeds of Crime and Anti-Money Laundering Act No. 2 of 2009.
Mohamed Mustaf Adan was charged with receiving a total of Sh824,388.03 on August 20, 2024, within the Republic of Kenya.
According to the prosecution, at the time of receiving the funds, Adan knew or had reason to believe that the money was derived from criminal activity, specifically theft.
The amount is alleged to be part of the stolen funds from DIB Bank, making it a clear case involving proceeds of crime.
The accused faced a last count of money laundering against the law.
On August 22, 2024, he is accused of entering into an arrangement to transfer Sh 247,000 from an account number domiciled at DIB Bank in the name of Allan Akuno Ochieng, domiciled at KCB Bank, while he knew that the same formed proceeds of crime.
He was released on a Sh 2M bond.
