Family Bank has approached the Director of Public Prosecutions to settle the Sh 1.6 billion against its eight senior managers relating to alleged money laundering involving the prime suspect in the NYS scam, Josephine Kabura, a trial court has been told.
When the matter came up for hearing today defence lawyer Cecil Miller who is representing the bank told Milimani chief magistrate Francis Andayi that they have officially written a proposal for an out of court settlement to the DPP.
“We have initiated talks with the DPP to explore an out of court settlement which may bring the matter to an end,” Miller said.
The prosecution informed the court that they have not received the alleged proposal letter although they were ready to proceed with the hearing of the case.
Besides approaching the DPP, the bank has also filed an application in the Court of Appeal to have the criminal case quashed saying it amounts to double jeopardy to the bank since it has been punished for the all edged breaches by being black listed by the CBK.
Lawyer Miller also informed the court that they were not ready to proceed with the case since he is engaged in a petition involving Nairobi Governor Mike Mbuvi Sonko which is before the High Court.