http://www.businessdaily.../-/jsbsn2z/-/index.html
Bandia Bank. I would not bank with NBK. I would not buy NBK shares. Conmen.
"The
National Bank chairman, Mohammed Hassan, has been accused of aiding a
Sh100 billion money laundering scheme at one of Kenya’s largest chartered flight operators — Bluebird Aviation." >>> Miraa operators.
"Mr Hassan, who started off as a finance analyst at Dyer & Blair before rising to become the investment bank’s executive director, has been accused of being
the conveyor belt linking Bluebird’s accounts to the pockets of Mr Hassan’s partners." >>> Money Laundering.
“The money Hussein Ahmed Farah, Hussein Unshur Mohammed and Mohammed Abdikadir Adan fraudulently misappropriated and used for their personal or collective use in the last 23 years is approximately between $750 million (Sh76 billion) and $1 billion." >>> There is a guy Mohammed Adan, I think, who is a major shareholder in many firms. I wonder if he is the same one mentioned here.
“Due to the massive cash held by the three directors in American dollars, the company and its associates have been
undertaking a massive money laundering exercise running into tens of millions of dollars." >>> The chairman of a bank being accused of money laundering.
"The bulk of the
money fraudulently obtained from the company is
channelled through one Mohammed Hassan, the chairman of the National Bank of Kenya,” Mr Abdi says in an affidavit filed at the High Court. >>> There you have it.
"He holds that his co-directors have spent a huge chunk of Bluebird’s funds to
increase their private share portfolios in the Nairobi bourse through Dyer & Blair, but does not specify whether the stock purchases were made when Mr Hassan was still at the helm of the investment bank."
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett