Three bank CEOs to appear in court over alleged Sh363m fraud scheme Salim Mohamed Busaidy, who is also a co-director of First Assurance Investment ltd, was accused of stealing the amount money. News Just now Listen
The prosecution further alleged that he forged the signature of his co-director, Mr Timamy on numerous company cheques, falsely presenting them as duly authorised, thereby facilitating the unlawful withdrawal of company funds.
The prosecution alleged that Mr Busaidy exploited his position as a director and his access to the company’s bank accounts held at NCBA Bank, KCB Bank and Co-operative Bank to steal the money.
Mr Salim Mohamed Busaidy, who is also a co-director of First Assurance Investment ltd was accused of stealing the money on different dates between May 18, 2018 and April 30, 2024.
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