Three bank CEOs to appear in court over alleged Sh363m fraud scheme The charge sheet states that they conspired to defraud First Assurance Investment ltd. News 18 min ago Listen
The chief executive officers (CEOs) of three banks will be required to appear before a Nairobi court next Tuesday over the failure to report suspicious transactions in alleged Sh363 million fraud scheme involving First Assurance Investment Ltd.
Forged signature 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.
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