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A former receiver manager of Imperial Bank Ltd on Tuesday told a Nairobi court that senior officials colluded to cover up fraud.

The High Court has dismissed a case by former employees of Equity Bank seeking a recalculation of their benefits over claims that they were underpaid.

CMA To Hunt Collapsed Imperial Bank Directors Over Ksh2 Billion Bond The Supreme Court has allowed the Capital Markets Authority (CMA) to go after directors of collapsed Imperial Bank who issued a Ksh2 billion bond a month before it collapsed. In court filings, CMA said that the lender issued the bond despite the directors knowing that the bank was on the red line, and would collapse soon. “The petitioners’ appeal is allowed to the extent that the respondent may proceed with its enforcement proceedings against the petitioners through its delegated authority under Section 11A(1) and or Sec...

CMA gets nod to hunt Imperial Bank directors over Sh2bn bond Tuesday December 15 2020 By SAM KIPLAGAT Summary The Supreme Court agreed with the regulator that it has rights to investigate circumstances under which the bank proceeded with the bond despite insider knowledge it was in trouble. Imperial Bank was placed under receivership in October 2015 after the board of the privately owned lender alerted authorities to suspected malpractices. Imperial Bank went under with the Sh2 billion in bonds, whose sale to the public had been cleared by the CMA, leaving investors bruised. The Capital Marke...