PREMIUM Three Bank CEOs get court reprieve in Sh363m fraud case Court has temporarily stopped the prosecution of the chief executives. Business 20 min ago
The High Court has temporarily stopped the prosecution of the chief executives of NCBA Group, KCB Group and Co-operative Bank over their alleged failure to report suspicious transactions linked to a Sh363.
The orders suspend criminal proceedings against NCBA Group Managing Director John Gachora, KCB Group Chief Executive Paul Russo and Co-operative Bank Chief Executive Gideon Muriuki, who had been summoned to appear before the Milimani Anti-Corruption Court on August 11.
The constitutional petitions filed by the three banking leaders are expected to test the extent of personal criminal liability for bank chief executives under Kenya's anti-money laundering laws, with the outcome likely to have far-reaching implications for governance and compliance across the banking sector.
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