KCB Bank has asked the Directorate of Criminal Investigations (DCI) to investigate alleged falsification of banking and internal documents used by Foxcapital Investment Limited to support a KSh148 billion claim against the bank.
KCB reported the matter to the DCI’s Banking Fraud Investigations Unit, citing documents filed in a High Court commercial case between the two parties.
Foxcapital claims that €978,675,839, equivalent to about KSh147.86 billion, was transferred on or about November 28, 2025, from BB Biotech AG’s account at UBS Switzerland AG to its euro account held at KCB’s Sarit Centre Branch.
KCB, however, denies ever receiving or processing the alleged funds.
The bank says preliminary investigations found no evidence that the transaction was processed by UBS Switzerland AG or received, recorded or held in KCB’s operational records, transaction systems or SWIFT infrastructure.
KCB says it also contacted UBS Switzerland AG on August 13, 2026, after Foxcapital presented documents purportedly showing that the money had been transferred from the Swiss bank.
According to KCB, an executive at UBS responded that the documents had not originated from UBS and were therefore not genuine.
The bank says UBS also did not authenticate the alleged SWIFT messages, payment instructions, payment tracking documents or other transaction records presented for verification.
KCB has further questioned the authenticity of two internal documents allegedly prepared by its employees and filed in court by Foxcapital.
One is a purported P1 Incident Report dated April 17, 2026, allegedly issued by KCB’s Head of Compliance and Ethics, John Ndegwa.
KCB says Ndegwa has denied under oath authoring, preparing, approving, signing or transmitting the report. He has also denied communicating its contents to Foxcapital or its representatives.
The second is an alleged Financial Crime Review and AML/CFT Clearance dated May 18, 2026, purportedly authored by KCB’s AML Compliance Manager, Chanya Kombo.
KCB says Kombo has also denied under oath authoring, preparing or signing the document.
The bank has now asked the DCI to investigate the alleged use of the documents in court and determine how they were prepared and presented.
The complaint relates to High Court Commercial Suit No. E533 of 2026, in which Foxcapital Investment Limited has sued KCB Bank over the disputed funds.
The case is before the Commercial and Tax Division of the High Court in Nairobi.
The dispute puts the spotlight on an alleged international transfer worth nearly KSh148 billion and the documents being relied on by the parties to establish whether the transaction took place.
KCB’s complaint does not, by itself, establish that the documents were forged. The allegations are now subject to investigation, while the underlying dispute remains before the High Court.
The development was also reported on Wednesday, with reports citing KCB’s complaint to the DCI over the documents filed in the case.
