Someone was offered to buy it and responded, "HELL NO!"

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

This stinks hard. Corruption has taken root to the core of the society. These under dealings will chock us. Its about time all banks are audited. @muganda who is PKF? Am lost!

Before everything else..CBK should bar PKF from auditing in the banking sector as external auditors.The level of connivance or incompetence or both in this matter is shocking.

Exactly....Are we going to blame a dead man yet there are "systems" in place?

Mutunga needs to set up a special court for economic crimes

GOK to the rescue? http://www.businessdaily.../-/4pfjxuz/-/index.html

The rogue accountants at PKF should be disbarred from practice. It would not be fair to shut down the whole practice as innocent employees would suffer.

The sad part is that some families for generations will continue enjoying that loot

Apparently a meeting this evening in Nairobi for depositors too.