Wells Fargo has offered to pay Quickmart KSh. 80M as compensation for a multi-million heist back in November 2023 involving two employees of the security firm who allegedly colluded with a police escort to steal KSh. 94.9M belonging to the giant retailer.
While admitting fault, Wells Fargo says it’s ready to pay the KSh. 80M in line with the valuables in transit contract it had with Quickmart.
This means Quickmart might get into a KSh14.9M loss should a court rule in favor of Wells Fargo, as the contract between the two firms capped Wells Fargo’s indemnity of the retailer at KSh80M.
Last November, two employees of Wells Fargo who are yet to be arrested, allegedly colluded with a police escort to steal the KSh. 94.9M that they were transporting to a bank, money they had collected from Quickmart’s several branches across Nairobi.
The vehicle transporting the money was later found dumped in South C, at least 8 people were arrested but the two main suspects who allegedly made away with the money are still at large to date. Only KSh. 9.1M was recovered from the amount stolen.
