BY NT CORRESPONDENT.
The director of a Nairobi based Inter-Web Global Fortune Limited has been charged with carrying out a business as an online forex broker without a license.
Manases Kuria Karanja appeared before Milimani Principal Magistrate Kennedy Cheruiyot and pleaded not guilty to the charges.
The forex bureau director is accused between January 1, 2018 and August 31, 2019 at View Park Towers in Nairobi county, he was carrying out the business without licensed by the Capital Markets Authority (CMA) or the Central Bank of Kenya.
The prosecution informed the court that the accused person has been posting information touching on the case on social media and requested that he be restricted.
His lawyer did not object to the application but wanted the order to extend to Capital Markets Authority (CMA), all social media users and the media.
The magistrate noted that both the defense and prosecution were concerned about what is being posted on social media.
The application was denied on grounds that the matter is a public trial and the public has a right to know.
Magistrate ruled that CMA is law abiding and is expected to act in accordance with the law.
The accused was released on a bond Sh 2 million and or a cash bail of Sh 1 million pending hearing and determination of the criminal case.
He was also ordered to deposit his passport in court until further orders.
