CBK wades into bonds trader suit
Central Bank has filed an application in High Court seeking to be allowed to respond to allegations by a blacklisted bonds trader in a fraud case. The bank wants to be involved as an interested party in the suit filed by former Tsavo Securities Ltd managing director Fredrick Mueni, who is challenging his blacklisting in the bonds market. The Capital Markets Authority banned the trader from the market last December as the regulatory authority conducted investigations into the theft of three bonds worth Sh18.5 million, Sh9.5 million and Sh11.5 million.
The scheme, he said, involved the staff, brokers and investment firms. “It is critical that the Central Bank of Kenya makes a complete answer to the accusations, failing which the accusations may be taken as indicative of truth,” the bank states.... Read the full, comprehensive news article and discuss at The Daily Nation