Revealed: CBK managers who cashed in on Imperial Bank heist

Revealed: CBK managers who cashed in on Imperial Bank heist

Standard Digital Monday 26th December, 2016

Fresh evidence presented in court over the loss of Sh48 billion in depositors’ funds at Imperial Bank of Kenya (IBL) have sucked in more Central Bank of Kenya officials.

A counterclaim filed against CBK by some Imperial directors lists CBK officials who were irregularly advanced loans at the collapsed bank, so that they could conceal shady loans from their inspection reports. These officials, it is claimed, were part of a scheme to lock out non-executive directors from the bank’s management.

The counter claim filed in court two weeks ago doubles as a defence for the Imaran Ltd, Reynol…

Read more