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Probe turns to CBK staff linked to collapse of Imperial, Chase - 6 months ago, 19 Aug 13:10

By: Galgallo Fayo

As SBM Holdings officially takes charge of Chase Bank tomorrow, focus shifts to Imperial Bank takeover by KCB in September and investigations against Central Bank of Kenya (CBK) officials linked to the collapse of the lenders.

The Ethics and Anti-Corruption Commission (EACC) in May revealed that it was investigating former and current CBK officials for their role in the multi-billion shilling accounting fraud that ran down Imperial Bank.

Depositors and other stakeholders, who were affected by the collapse of the banks, are keen to understand which deliberate regulatory lapse contributed to their suffering.

A lobby group that represented a section of Imperial Bank depositors had called for speedy probe into the matter, noting that the investigations have taken too long to bear any fruit.

“We want to see to what extent the shareholders and CBK officials were involved.

“We have seen only directors charged in court; they are employees, not even directors,” said Mr ...
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