KCB Bank has asked the Directorate of Criminal Investigations to probe court documents filed against it by Foxcapital Investment Ltd in a Sh146.3 billion dispute.
The bank wants the DCI’s Banking Fraud Investigations Unit to verify the authenticity of filings Foxcapital submitted in court.
KCB Group chief executive Paul Russo says the documents cannot be traced to any legitimate source.
Foxcapital sued KCB this month. The company claims the bank received a EUR978,675,835 remittance from Bay Biotech Ltd, formerly BB Biotech AG Ltd, in October 2025. It says KCB never credited the funds to its account.
The High Court has frozen the money pending the outcome of the case.
At the center of the dispute are documents Foxcapital attributes to UBS Switzerland AG. These include SWIFT messages, an April 17, 2026 incident report, a May 18 financial-crime review, and a July 1 technical review. KCB says none of it is genuine.
The bank wrote to UBS on August 13 seeking confirmation. UBS reportedly replied that the documents and payment instructions did not originate from it.
KCB also says a search of its own SWIFT gateway turned up no matching transaction, and its officers deny preparing or approving any of the disputed records.
Foxcapital tells a different story. Its chief executive, David Dudi Akech, told the court the money did reach KCB and sat in a pre-settlement suspense account.
He points to the same three reports KCB is now disowning: the April 17 report, which he says flagged a critical system routing fault; the May 18 review, which he says found no staff collusion; and the July 1 review, which he says traced the problem to a defect in KCB’s core banking system.
Three named KCB staff — John Ndegwa, Kristina Chanya Kombo and Bassam Basil Aura — have denied any involvement in the disputed records.
