BY SAM ALFAN.
Former Commissioner of Insurance Regulatory Authority Sammy Makove has been charged with attempt to sell a property belonging to Blue Shield Insurance, a few years after the underwriter was placed under receivership.
Sammy Makove,John Sifa Keah and Eliud Muchoki Muriithi appeared before Milimani Senior Principal rincipal Magistrate Kennedy Cheruiyot and pleaded not guilty.
The company was placed under receivership in September 2011 and Makove, who was then the Commissioner if Insurance, appointed tow statutory managers to manage the company
Makove was charged together with a former statutory manager John Sifa Keah, with the prosecution claiming that they intended to defraud the company.
The charges against them stated that they attempted to defraud the company by planning to dispose of its building known as Blue Shield Towers, Upper Hill area, Nairobi.
The court heard that a moratorium was in place and the plan to sell the building had not been approved by the statutory management. They allegedly committed the offence between July 5, 2015 and July 31, 2016.
Keah was separately charged with Eliud Muchoki Muriithi, yet another former statutory manager, with stealing Sh10.2 million belonging to the underwriter, money which came into their possession by virtue of their employment.
The accused persons said they brought themselves to court after being released by police officers on cash bail of Sh100,000.
The trio further said they were not a flight risk since they have cooperated with investigators since 2015. The prosecution through senior state counsel Kennedy Panyako did oppose the application.
Makove said he was a retired civil servant and a senior citizen and had no intention of jumping bail.
They were released on a cash bail of Sh100,000 each pending hearing and determination of the case.
The case will be mentioned on August 4 for pre-trial.
