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Chase Bank loss...another case of cooking the books?
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obiero
#651 Posted : Friday, March 31, 2017 5:27:44 PM
Rank: Elder

Joined: 6/23/2009
Posts: 14,213
Location: nairobi
2012 wrote:
maka wrote:
Bigchick wrote:
Citizen digital says CBK has invited bids for interested buyers.To submit bids by 21st April.What could have happened to the interested parties from UAE??

What will happen if there arr no takers?


KCB messed up this whole thing bure kabisa....The Qatari's would have owned chase bank by now.


It's not KCB that messed, they pulled out because the CBK Governor allowed the thieving Chase Directors back on the table instead of sending them to prison and the Finance CS failure to constitute the KDIC. There's more than meets the eye. The defrauded customers have formed a society to take matters under their own hands and ensure that they don't lose out the Kenyan way. I get shocked at how silent the government is on these matters.

@2012 SOO TRUE.. In Kenya its easy for mshtakiwa kuwa mshtaki for a couple of exchanged notes.. Its sad what is happening to our country

KQ ABP 4.26
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maka
#652 Posted : Friday, March 31, 2017 5:35:51 PM
Rank: Elder

Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
obiero wrote:
2012 wrote:
maka wrote:
Bigchick wrote:
Citizen digital says CBK has invited bids for interested buyers.To submit bids by 21st April.What could have happened to the interested parties from UAE??

What will happen if there arr no takers?


KCB messed up this whole thing bure kabisa....The Qatari's would have owned chase bank by now.


It's not KCB that messed, they pulled out because the CBK Governor allowed the thieving Chase Directors back on the table instead of sending them to prison and the Finance CS failure to constitute the KDIC. There's more than meets the eye. The defrauded customers have formed a society to take matters under their own hands and ensure that they don't lose out the Kenyan way. I get shocked at how silent the government is on these matters.

@2012 SOO TRUE.. In Kenya its easy for mshtakiwa kuwa mshtaki for a couple of exchanged notes.. Its sad what is happening to our country


Jubilee is what is happening...Sad Kenya...smh
possunt quia posse videntur
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maka
#653 Posted : Thursday, April 06, 2017 5:15:27 PM
Rank: Elder

Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
possunt quia posse videntur
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  | | Edit by moderator: Thursday, April 06, 2017 5:18 PM | Reason: embedded for user
Ericsson
#654 Posted : Friday, April 07, 2017 9:56:57 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
48 shareholders of Chase Bank write a protest letter to Central Bank of Kenya (CBK) asking to be part of the talks to sell the Bank.

the 48 Shareholders own about 20 per cent of Chase Bank
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Bigchick
#655 Posted : Friday, April 07, 2017 12:18:41 PM
Rank: Elder

Joined: 2/8/2013
Posts: 4,068
Location: At Large.
For those who understand this buy off thing..please explain what will happen to the depositors funds?What about the loans?If one is stuck right now and and unable to pay the loans as earlier scheduled,can they negotiate with the Receiver Manager for extension of period?
Love is beautiful and so are those who share it.With Love, Marriage is an amazing event in ones life time, the foundation of joy, happiness and success.
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2012
#656 Posted : Friday, April 07, 2017 1:05:06 PM
Rank: Elder

Joined: 12/9/2009
Posts: 6,592
Location: Nairobi
Bigchick wrote:
For those who understand this buy off thing..please explain what will happen to the depositors funds?What about the loans?If one is stuck right now and and unable to pay the loans as earlier scheduled,can they negotiate with the Receiver Manager for extension of period?


Alaa.. People never stopped paying loans. Your loan account was to be serviced as usual.

The CBK reported it had forcefully seized properties worth Sh7.9 billion camouflaged as Islamic joint ventures by Mr Khan and Mr Kabui, and charged them to the bank, paving the way for the re-opening of Chase Bank after a three-week closure.
Prime assets
The prime assets confiscated included the Watermark Business Park in Karen, a car park at Chase Bank’s headquarters on Riverside Drive, 240 acres of land on Mombasa Road, a three-acre plot next to the German Embassy on Riverside Drive, and various posh properties in Dubai.
“These companies are owned by the chairman, over 90 per cent of the ownership of those companies was the chairman and 10 per cent was the group MD,” Fredrick Aloo, a partner at Deloitte & Touche in charge of auditing Chase Bank’s accounts.

What I don't understand is why these two thieves are not being arrested?!!!

BBI will solve it :)
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  | | Edit by user: Friday, April 07, 2017 1:09 PM | Reason: Not specified
Obi 1 Kanobi
#657 Posted : Friday, April 07, 2017 1:07:43 PM
Rank: Elder

Joined: 7/23/2008
Posts: 3,017
Bigchick wrote:
For those who understand this buy off thing..please explain what will happen to the depositors funds?What about the loans?If one is stuck right now and and unable to pay the loans as earlier scheduled,can they negotiate with the Receiver Manager for extension of period?


The buy-off thing has no impact on the rights of depositors or borrowers. Any investor who puts their money in the bank and wants to continue baking automatically moves to the back of the line behind the depositors when it comes to recovering their cash.

On borrowers, again no impact, you must continue servicing your loan, and yes you can negotiate with the receiver manager to restructure your loan.
"The purpose of bureaucracy is to compensate for incompetence and lack of discipline." James Collins
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Bigchick
#658 Posted : Friday, April 07, 2017 2:53:46 PM
Rank: Elder

Joined: 2/8/2013
Posts: 4,068
Location: At Large.
Obi 1 Kanobi wrote:
Bigchick wrote:
For those who understand this buy off thing..please explain what will happen to the depositors funds?What about the loans?If one is stuck right now and and unable to pay the loans as earlier scheduled,can they negotiate with the Receiver Manager for extension of period?


The buy-off thing has no impact on the rights of depositors or borrowers. Any investor who puts their money in the bank and wants to continue baking automatically moves to the back of the line behind the depositors when it comes to recovering their cash.

On borrowers, again no impact, you must continue servicing your loan, and yes you can negotiate with the receiver manager to restructure your loan.



Thanks Obi.
Love is beautiful and so are those who share it.With Love, Marriage is an amazing event in ones life time, the foundation of joy, happiness and success.
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tandich
#659 Posted : Wednesday, April 12, 2017 11:58:22 PM
Rank: Member

Joined: 5/6/2008
Posts: 199
KDIC goes after Chase Bank fraud masterminds

https://citizentv.co.ke/...raud-masterminds-163454/
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maka
#660 Posted : Thursday, April 13, 2017 8:19:40 AM
Rank: Elder

Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
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