Pressure on Tuesday continued to pile on directors of the fallen Imperial Bank after depositors sought to be enjoined in a new suit in which the directors face a freeze on their assets in a bid to recover a Sh45 billion loss that sent the lender into receivership. Through lawyer Josephine Kogweno, the depositors say the orders sought in the suit “will affect them directly as account holders and depositors at Imperial Bank Limited”. “The depositors and their families are already suffering due to the illegalities at the said bank,” an affidavit presented yesterday at the High Court reads. The IBL and KDIC, which are represented by Mr Murgor, say the colossal fraud at lender was permitted by the defendants. Mr Murgor argues that the situation has also subjected the bank customers to undue stress and hardship occasioned by the loss of their deposits.

Source: Daily Nation October 04, 2016 18:45 UTC