George Bush Juma once enjoyed a prosperous career as a banker, serving as a supervisor and earning a comfortable monthly income of Ksh150,000. His wife was also employed in the banking industry, and their family lived a contented life.
Nonetheless, the allure of greed and deception ultimately led to the downfall of his promising career, and he now finds himself serving three sentences within the confines of Kamiti prison. This transformation from a respected banking professional to a convict raises the question of how such a high-ranking figure in the banking sector ended up behind bars.
In this narrative, as recounted by Juma himself during an interview with Inooro TV, we gain insight into the murky world of unscrupulous individuals within the banking industry who employ nefarious tactics to amass substantial wealth, often at the expense of unsuspecting clients who entrust banks with their hard-earned money.
Juma’s journey in the banking sector began as an auditor, a role that entrusted him with the task of monitoring client accounts, both local and international. Within this capacity, he possessed intimate knowledge of accounts with high activity, substantial balances, and crucially, accounts that were rarely scrutinized. His focus was particularly keen on accounts held by clients living in the diaspora.
These clients, typically residing abroad, frequently deposited money into their accounts but displayed little urgency in making withdrawals, sometimes leaving their funds untouched for as long as two to three years. Juma and his collaborators recognized an opportunity in this complacency, seizing the chance to manipulate the system and divert these dormant funds into their own accounts.
For Juma to ascend to such a prestigious position within the bank and engage in these sophisticated acts of deception, he invested heavily in his education and career. After graduating from Kabarak University with a Bachelor of Commerce degree in 2006, he secured employment at a local bank. His productivity in the department earned him a scholarship to study economics and statistics at a university in the United States.
During his time in the U.S., Juma’s dedication and vision set him apart from his peers, leading to his election as the leader of the Union of African Group of Scholars living in the USA. Upon graduation, he returned to Kenya but faced racism-related challenges when he initially joined one of the banks. After a few months, he transferred to another bank, where he assumed the role of an auditor. His diligence and precision in balancing the ledgers resulted in a rapid promotion to the position of supervisor, a role that now required all transactions to pass through his office for approval.
It was at this pivotal juncture that Juma was presented with an offer he found impossible to refuse by his corrupt superiors. They asserted that, despite Juma’s established methods of operation as a supervisor, the bank had its own ‘culture’ of how things were done. They also enticed him financially with an offer that exceeded his existing monthly salary of Ksh150,000. Juma succumbed to the temptation, and with his expertise, he facilitated their fraudulent schemes, often involving forgery. The team consisted of 11 individuals, including IT experts.
In their initial operation, they illicitly gained Ksh17 million, followed by another job that yielded Ksh11 million. Clients began losing Ksh1 daily from their accounts. Accumulating easy millions rapidly became their way of life, and by the time the bank detected their fraudulent activities a year later, they had amassed substantial fortunes.
The incriminating paper trail ultimately led to their exposure, with Juma’s office being the focal point of liability. Consequently, the bank took legal action against him, accusing him of 18 offenses, three of which resulted in convictions. Juma spent his ill-gotten gains in a futile attempt to defend himself against the remaining charges, leading to his financial ruin.
Reflecting on his experiences, Juma highlighted the prevalence of similar traps that ensnare many bankers even today. He emphasized that contemporary bank employees continue to pilfer clients’ funds by employing complex systems. He cautioned that clients should vigilantly monitor their transactions, ensuring that the figures align down to the last cent. Furthermore, he stressed the importance of cultivating strong relationships with bank officers who can help identify any irregularities, thus safeguarding their hard-earned money from unscrupulous individuals within the industry.
