Whooah, what a flimsy document for such large amounts of money
Fraud as alleged by above poster in more than a dozen steps:
• #imperialbank – the late Janmohamed was the only executive that sat on the board.
• He was the chief architect to the fraud – and assisted by his senior team, PKF and CBK to hide the irregular borrowing.
• Three companies are at the center of this irregular borrowing (38.5 Billion, including accumulated interest over 13 years)
• Basically, JanMohamed and his crew underreported the bank’s depositor base so that they could hide the irregular loans
• So how did he get away with it for so so long?
• First to his board, he always presented a ‘re-worked’ top 50 borrower list, so the board always thought all was well.
• The top 50 borrower list his CFO shared with CBK was also different from the one the board saw
• This is where CBK comes into the picture; Janmohamed and crew ‘convinced’ them to never go into their core banking system
• So basically, CBK always took what they were told as the whole truth.
• In 2012, a whistle blower singled out WE Tilley as getting irregular transfers from #Imperialbank
• In an email to CBK – the CFO acknowledged WE Tilley as a customer, but said they didn’t have any facility with the bank
• Which was false – WE Tilley at the point had received over 19 billion shillings (and hadn’t paid a single cent back, no paper work)
• CBK took that as the final position and quickly moved on from the Whistle blower, they looked the other side
• The only time the board reprimanded JanMohammed was when he was asked TO STOP lending money to a company called ‘Meta’
• Jade Petroleum is a company #imperialbank has sued for irregularly receiving 1.8 billion (Plus interest) through JanMohammed
• The Jade association is bizzare, the owner used to send Janmohammed a list of expenses to be cleared
• Salon bills, supermarket shopping – plane tickets – shopping for his wife and Janmohammed cleared them through #imperialbank
• Who are these people? What did they have on the late GMD?
• They are associated with a family that used to own the Dolphin group – one of them was jailed in the UK for conning an investor
• A company renovating CBK offices was given a loan through Janmohammed – but it was never reported in the books
• The #imperialbank CFO is on record negotiating for a 6 million bob payout to CBK peeps
• So where has the regulator been all this time? Where is their AUDIT report?
• CBK owns a clearance house – but not one time did they question the transaction and now they say they can’t trace them
• The same chaps involved in Charterhouse are elbows deep in this mess and CBK was mum, the whole time.
• What about the watchdog, the board paid for – PKF? Well, one of their directors also received a 19 million bob irregular loan
• Kesho, receipts. #Imperialbank GMD used to send chits to his finance peeps. These ones relate to WE Tilley #receipts