Ex-CMC directors fined Sh131m over secret fund
1 weeks ago, 08:11
Former directors of delisted motor vehicle dealer CMC Holdings #ticker:CMC have been forced to pay a penalty of Sh131 million for siphoning cash from the then publicly traded firm and stashing it abroad, the regulator has revealed. The Capital Markets Authority (CMA) in its 2017 annual report says the money was recovered from a number of directors, but falls short of revealing their names. Former CMC chief executive Mark Forster and long-serving board chairman Jeremiah Kiereini were among direct ...
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