Special Crimes Prevention Unit police officers yesterday seized Sh 32.6 billion fake currencies and 70kg fake gold in Ruiru.

They raided a house in Kwihota village, Gatong’ora location, and picked up two suspects.The police had been tracking their conversations.

Ruiru police boss James Ng’etich said:

We’ve managed to get Sh32.6 billion — $324million, 1 million sterling pounds, 840 million euros and one million Kenya shillings. 

Ruiru police boss James Ng’etich said the cash was stashed in iron boxes. The suspects were identified as Joseph Munyao and Nancy Muthoni.

The 26 pieces of fake gold were recovered from Muthoni’s handbag. Munyao had a pistol for which he had a licence.

Ngetich added that:

We’ll subject it to further scrutiny with the relevant authorities to ascertain its authenticity. These are people engaging in money laundering. They will assist us in our investigations so we can break the syndicate, which we believe is big.

The detectives launched intensive investigations to unravel the web of racketeers involved in the fake currency business and money laundering.

A business certificate that expired on August 25, 2013, was also found. It indicated that the illegal business has been going on for years.

Ruiri residents said it was difficult to suspect the two had sinister motives and that such phoney dealings had been taking place in the estate.

One of them said:

I can’t believe that we are languishing in poverty while our neighbours are keeping all this money in their house.

Munyao lived with his wife and three children in his Ruiru home. He is said to have quit formal employment at Secure Africa, a logistics company.