KCB Bank Group has asked the Directorate of Criminal Investigations (DCI) to examine documents linked to a Sh146.3 billion court dispute. The bank says the documents presented by Foxcapital Investment Ltd are allegedly falsified.
The dispute involves €978.68 million allegedly meant for investment in government bonds. Foxcapital, however, that the money was transferred from abroad. Foxcapital sued KCB in August 2026, claiming that British firm Bay Bionics Ltd sent the money to its KCB account in October 2025. It alleges that the bank failed to credit the funds.
The court has since preserved the disputed money. This will allow the court to determine whether KCB received and withheld the funds. KCB has challenged the documents relied on by Foxcapital. The bank wants investigators to establish who prepared, supplied, circulated or presented the records in court.
KCB Chief Executive Paul Russo also challenged several SWIFT messages and internal documents. These included an April 17 incident report and a May 18 financial-crime review.
A July 1 technical review was also questioned. KCB said its SWIFT Gateway had no corresponding transaction linked to the alleged transfer. UBS Switzerland AG also denied originating the documents and payment instructions attributed to it. In addition, KCB officers gave sworn statements disputing the records.
However, Foxcapital presented a different account of what happened. Its chief executive, David Dudi Akech, told the court that KCB’s internal records showed the money entered a pre-settlement suspense account.
He said this happened after a system-routing fault. Foxcapital also pointed to an alleged financial-crime review and AML/CFT clearance. According to Akech, the reviews found no adverse findings or evidence of staff collusion. The competing accounts have left the court to determine what happened to the disputed funds and whether the documents are genuine.
The DCI probe sought by KCB could therefore add another layer to the ongoing court dispute. It could also help establish the origin of the disputed documents and the circumstances surrounding their presentation.