He was specifically barred from holding office in public listed companies for two years. In 2016, Mr Okumu was arrested over allegations of “gross misconduct and negligence” at a time which the retailer owed suppliers Sh1 billion. By MAUREEN KAKAHMore by this AuthorFormer Uchumi Supermarket’s finance manager Chadwick Okumu obtained a reprieve after the High Court quashed sanctions imposed on him two years ago following allegations of fraud. Justice John Mativo in his ruling, pointed out that the Capital Market’s Authority (CMA) which imposed various penalties against Mr Okumu, violated the principle of natural justice. In 2016, Mr Okumu was arrested over allegations of “gross misconduct and negligence” at a time which the retailer owed suppliers Sh1 billion.

Source: Daily Nation May 02, 2018 15:56 UTC