Doctor sues bank over missing Sh5.7m in fixed deposit account
An Eldoret doctor has sued Equatorial Commercial Bank over Sh5.7 million that he allegedly deposited in a fixed account but which does not reflect in its records.
An Eldoret doctor has sued Equatorial Commercial Bank over Sh5.7 million that he allegedly deposited in a fixed account but which does not reflect in its records.
Dr Prabhudhas Vasanji Lodhia, 80, also claims the bank denied him interest accrued on the deposit.
The Eldoret Hospital director said he and the bank had agreed in 2011 that the money would attract an interest of eight percent.
Deposit not reflected
He said he was surprised when bank managers told him that his account did not reflect the deposits.
Through his lawyer Alfred Nyairo, Dr Lodhia told the court that he deposited the money on various dates between March and June 2011.
“On March 24, 2011, I deposited a sum of Sh3,224,924 and on June 25, 2011 Sh2,5000 in the same account. Both amounts were deposited for a period of six months in a fixed deposit account … with each accruing an interest of 8 percent per annum from the respective dates of deposit,” Dr Lodhia told the court.
He was given receipts for the deposits bearing the numbers 008803 and 008850, respectively.
The court heard that in December 2011, he visited the bank’s Zion Mall branch to cash out but he was not paid.
Bank sent police officers
When he persisted in demanding the money, the bank sent police officers to his office at Eldoret Hospital in 2012. They asked him to record statements on his allegations.
He said the bank had been promising him all these years to be patient as the matter was being addressed, prompting him to seek justice in court.
The bank denies Dr Lodhia’s allegations, saying there are no records to confirm that he deposited the money there.
Lydia Aduke, a lawyer representing the bank, told the court on Thursday that the deposits did not reflect in the complainant’s account.
Cross-examining the plaintiff, Ms Aduke told the court that the money did not reflect in the bank cash register for the cited dates.
“Our bank register does not reflect the said transactions on the client’s account as he alleged. The bank cash register does not indicate if he banked the said money in our bank on the respective dates,” he said.
Bank sued its manager
The bank has sued the manager who was on duty when the claimed transactions were made.
The manager was sued for stealing by a servant in 2014 and the money involved in the case was the same amount that Dr Lodhia claims to have deposited at the bank.
Eldoret Chief Magistrate Dennis Mikoyan adjourned the hearing until July 13.
