CBK to recover Sh727m stolen bonds from banker
CBK to recover Sh727m stolen bonds from banker Monday April 12 2021 By JOSEPH WANGUI Summary The Court of Appeal has dismissed a petition from Jignesh Desai that sought to bar the CBK from recovering the millions of shillings. Mr Desai was accused of facilitating the opening of a bank account for Mpesha Ltd – a briefcase company –that was set up as a conduit to siphon millions of shillings from the CBK. Under the scheme, proceeds of Treasury bonds worth Sh205 million under CBA Capital and Mumbu Holdings were transferred to Mpesha Ltd in 2003. The Central Bank of Kenya (CBK) has been clear...
Source: businessdailyafrica.com