BY SAM ALFAN.
Do not touch our assets, Imperial Bank Shareholders have told the Central Bank of Kenya.
They want a case yearning to freeze their assets dismissed saying that following an investigation by CBK on their culpability, they found that no money was actually lost by them.
“The application to freeze the assets is an abuse of court process since CBK did not disclose any loss of money caused by us,” they said in court documents.
They told the court that an application by the Central Bank and the Kenya Deposit Insurance Cooperation (KDIC) to have their assets frozen is scandalous.
CBK and KDIC sought to freeze some of the shareholders accounts in order to recover Sh42 billion.
“Criminal proceedings have been commenced against those that Imperial Bank perceives to be culpable for the subject fraud being James Kaburu, Naeem Shah and named directors of W.E. Tilley. We therefore cannot be liable for the criminal acts of known and named officers of Imperial Bank,” they said.
CBK wants the court to issue an order compelling Imperial Bank Directors and shareholders pay back Sh2.7 billion, allegedly given to them fraudulently as dividends.
