BY SAM ALFAN.
The Central Bank of Kenya claim that directors whose companies have bank accounts with the bank placed under receivership have colluded the current managing director to siphoned over sh 34 billion from the bank.
George Oraro acting for Central Bank of Kenya told Justice Fred Ochieng, that unless a restraining orders is issued against the defendants companies numbering up to twenty from disposing or transferring their assets there is likelihood depositors loosing their money.
” The assets will be transferred or disposed in a bid to defeat the cause of justice, he told the court. He said that the first defendant company W.E. Tilley (Muthaiga) limited has admitted having received Sh 10 billion has offered its properties held as a charge.
After the passing away of the Deceased Mr Abdulmalek Jammohamend, Mr. Naeem Shah(formerly the Bank’s Head of Credit and now currently the Bank’s Acting Managing Director) and Mr. Kaburu ( former Chief Finance Officer and current Deputy Managing Director) revealed to the Bank’s Directors that the Deceased had been responsible for activities and/or actions that were irregular, to wit: the Deceased had for sometime instructed them to carry out certain false, fraudulent, unlawful and illegal activities in the Bank.
They claimed that they said that they had been instructed by the Deceased to permit the Defendants among other customers of the Bank to withdraw vast sums of money from their accounts without having any loan facilities or accommodation
.They had received instructions on handwritten chits to carry out the acts set out in (a) above they had been instructed to manipulate the Bank’s books so as to allow the false, fraudulent and unlawful acts set out in(a) above so as to hide the fraudulent acts of the Deceased who had in concert with the Defendants stolen a lot money from the bank
