Trader to pay CBK Sh205m for stealing Treasury bondsOn July 29, 2002, Aba Mpesha walked into the Westlands branch of Giro Bank clutching personal documents and a Sh5,000 deposit to open an account. According to Desai, Mpesha said he had been referred to him by one Khimji Patel, alias Ashok Patel, who was allegedly a Giro customer. On February 7, 2003, Sh95 million was transferred to the account by order of Dyer Blair Investment Bank, through Stanbic Bank. Mpesha immediately withdrew Sh16.5 million in cash and transferred Sh41 million in five separate banker’s cheques to Fina Bank. The CBK then launched a civil suit against Ribero, Mwangi and Desai in a bid to recover the lost money.

Source: Standard Digital January 13, 2020 07:30 UTC