Biwott kin linked to Sh458m KenolKobil insider tradingDealers monitor trading at the bourse. The son-in-law of the late powerful minister Nicholas Biwott has been identified as the missing link in the insider trading case at oil marketing firm KenolKobil.The suspect deals gifted the conspirators almost Sh458 million on stock tips. The regulator said it had secured illegal gains worth Sh458 million that might have been transacted in the context of the ongoing investigations into insider trading on KenolKobil shares. Proving insider trading is not an easy task as one would have to link the data leak directly to the trades. Mr. Satchu has challenged CMA’s warrants, including whether it made full disclosures to the court that granted the search.

Source: Standard Digital March 13, 2019 06:09 UTC