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15 Pages«<1112131415>
Now Imperial Bank under receivership for 12 months
enyands
#241 Posted : Friday, February 12, 2016 11:11:42 PM
Rank: Elder


Joined: 12/25/2014
Posts: 2,232
Location: kenya
mawinder wrote:
enyands wrote:
[quote=FRM2011]Here is a very detailed article on this massive fraud

http://owaahh.com/the-sa...;utm_source=twitterfeed[/quote]


"Driving Mitsubishi Lancer yet a billionaire."

Nothing much with the car. Most Indians love the Mitsubishi Lancet. The type of car has never been a determinant of one's wealth. At UK Shah uses a Mark X



Yeah i know Laughing out loudly though u missing my point. I just wanted to point out that he had a humble life style despite having all the tools for it that's all. Buffet is billionaire but lives in a three bedroom house .Gates fav car is Nissan leaf .
I realised buddies of mine who used to floas out there of their big machine cars symbolizing their assets and only a quick peek into bankmaster software had a story to tell. So it's true car isn't a measure of true wealth. I'm curious to know what used to happen in Thailand though ..... this is like John Kiriamiti story
muandiwambeu
#242 Posted : Saturday, February 13, 2016 12:23:49 AM
Rank: Member


Joined: 8/28/2015
Posts: 629
whiteowl wrote:
muganda wrote:
Mr. Alnashir Popat, chairman of the board, said Mr Janmohamed, whom he referred to as a disturbed man, doctored documents presented to the board, impeding decision making.

“Mr Janmohamed was a colleague, friend and to many of us an extended member of the family and none of us could have imagined a betrayal at this level.”


Dead men tell no tales. That's the first rule to follow when doing a cover up.

Laughing out loudly Laughing out loudly Laughing out loudly
Dead bodies tell no stories. What a perfect timing this one was. All investigations will lead to one dead and barrier burger. Will u exhume him for cross examination? A perfect scapegoat this is. So sad for the bankers in this dead cat case.so sad.
,Behold, a sower went forth to sow;....
shocks
#243 Posted : Monday, February 15, 2016 9:04:41 PM
Rank: Member


Joined: 3/15/2009
Posts: 290
DTB imetajwa tajwa pale Mara kadha, pesa ilikuwa inawekwa kwa the Tilley a/cs in Imperial then inatembea immediately to DTB. Then DTB came to save the day after the bank was closed, are we missing something?
murchr
#244 Posted : Monday, February 15, 2016 9:33:42 PM
Rank: Elder


Joined: 2/26/2012
Posts: 11,049
Part 2:

Quote:
One of the explosive things Naeem Shah handed to the board was a treasure trove of handwritten chits. The chits, dating back to as early as 2002, had instructions to move money from and across various accounts. To get his message across, Abdulmalek would use his Montblanc pens to write instructions to his minions. He must have felt smart, knowing the paper would not create as serious a trail as an email would. But Naeem wasn’t throwing them away. Instead, he secretly filed them, knowing that one day the ruse would run its course. If it did, he would have clear evidence that he hadn’t moved the money on his own volition. It was a trail, and a bloody one.
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
timuka
#245 Posted : Friday, February 19, 2016 5:15:22 PM
Rank: Member


Joined: 1/21/2013
Posts: 427
murchr
#246 Posted : Friday, February 19, 2016 7:19:10 PM
Rank: Elder


Joined: 2/26/2012
Posts: 11,049
Quote:
An email submitted in Court between IBL’S CFO and a senior manager gives a clue of how high the mess went, and how ridiculously reckless it was. In it, Kaburu, the CFO, asks the manager to delete some entries from the top 50 borrowers list.


d'oh!
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
enyands
#247 Posted : Friday, February 19, 2016 7:37:44 PM
Rank: Elder


Joined: 12/25/2014
Posts: 2,232
Location: kenya
Kusadikika
#248 Posted : Friday, February 19, 2016 9:33:38 PM
Rank: Veteran


Joined: 7/22/2008
Posts: 1,401


Sema uhondo!! This is one very interesting story. I think I now know what caused Abdulamaleks death. The man realized the new CBK governor has no wife, has no assets is not interested in living in the governors mansion or driving in big cars. The realization that the man who could finish him could not be bought with anything money could buy caused the heart attack that killed him.

This is a very dramatic way of dying when a wicked powerful man has reached the end of his wits. Watch the movie Scarface or read the Shakespeare play Richard the 3rd who in his final words pleads for a horse to save him and he is willing to give up his kingdom for a horse. A horse, a horse! My kingdom for a horse! he cries.
enyands
#249 Posted : Friday, February 19, 2016 9:59:21 PM
Rank: Elder


Joined: 12/25/2014
Posts: 2,232
Location: kenya
Kusadikika wrote:


Sema uhondo!! This is one very interesting story. I think I now know what caused Abdulamaleks death. The man realized the new CBK governor has no wife, has no assets is not interested in living in the governors mansion or driving in big cars. The realization that the man who could finish him could not be bought with anything money could buy caused the heart attack that killed him.

This is a very dramatic way of dying when a wicked powerful man has reached the end of his wits. Watch the movie Scarface or read the Shakespeare play Richard the 3rd who in his final words pleads for a horse to save him and he is willing to give up his kingdom for a horse. A horse, a horse! My kingdom for a horse! he cries.



I like this opus dei Mei guy .hope my spelling is correct . Even with discripancies with $2B he still sticks his guns that the dates were different from the treasury's. I hope he doesn't change with time . Hope he can weather the storm. He is the first public official I find to be honest and deligent
maka
#250 Posted : Saturday, February 20, 2016 10:06:31 AM
Rank: Elder


Joined: 4/22/2010
Posts: 9,886
Location: Nairobi
enyands wrote:
Kusadikika wrote:


Sema uhondo!! This is one very interesting story. I think I now know what caused Abdulamaleks death. The man realized the new CBK governor has no wife, has no assets is not interested in living in the governors mansion or driving in big cars. The realization that the man who could finish him could not be bought with anything money could buy caused the heart attack that killed him.

This is a very dramatic way of dying when a wicked powerful man has reached the end of his wits. Watch the movie Scarface or read the Shakespeare play Richard the 3rd who in his final words pleads for a horse to save him and he is willing to give up his kingdom for a horse. A horse, a horse! My kingdom for a horse! he cries.



I like this opus dei Mei guy .hope my spelling is correct . Even with discripancies with $2B he still sticks his guns that the dates were different from the treasury's. I hope he doesn't change with time . Hope he can weather the storm. He is the first public official I find to be honest and deligent


Very good guy...I always say we dont have a shortage of good guys..I confess I am one of the peeps who wanted Dr.Haron Sirma to take over but am glad he never did...
possunt quia posse videntur
enyands
#251 Posted : Saturday, February 20, 2016 10:31:22 AM
Rank: Elder


Joined: 12/25/2014
Posts: 2,232
Location: kenya
maka wrote:
enyands wrote:
Kusadikika wrote:


Sema uhondo!! This is one very interesting story. I think I now know what caused Abdulamaleks death. The man realized the new CBK governor has no wife, has no assets is not interested in living in the governors mansion or driving in big cars. The realization that the man who could finish him could not be bought with anything money could buy caused the heart attack that killed him.

This is a very dramatic way of dying when a wicked powerful man has reached the end of his wits. Watch the movie Scarface or read the Shakespeare play Richard the 3rd who in his final words pleads for a horse to save him and he is willing to give up his kingdom for a horse. A horse, a horse! My kingdom for a horse! he cries.



I like this opus dei Mei guy .hope my spelling is correct . Even with discripancies with $2B he still sticks his guns that the dates were different from the treasury's. I hope he doesn't change with time . Hope he can weather the storm. He is the first public official I find to be honest and deligent


Very good guy...I always say we dont have a shortage of good guys..I confess I am one of the peeps who wanted Dr.Haron Sirma to take over but am glad he never did...


I agree. he is different. you can see how he is handling the imperial and Dubai bank investigation. Also you can see how he handles himself when announcing banks that have refused to lower interest rate ,he went straight to the public to announce the bank with the most expensive rate to the cheapest so that people can decide. Which govonor in Kenya has ever done that?

if he runs for office then he has my vote
sparkly
#252 Posted : Saturday, February 20, 2016 10:37:37 AM
Rank: Elder


Joined: 9/23/2009
Posts: 5,402
Location: Enk are Nyirobi
Kusadikika wrote:


Sema uhondo!! This is one very interesting story. I think I now know what caused Abdulamaleks death. The man realized the new CBK governor has no wife, has no assets is not interested in living in the governors mansion or driving in big cars. The realization that the man who could finish him could not be bought with anything money could buy caused the heart attack that killed him.

This is a very dramatic way of dying when a wicked powerful man has reached the end of his wits. Watch the movie Scarface or read the Shakespeare play Richard the 3rd who in his final words pleads for a horse to save him and he is willing to give up his kingdom for a horse. A horse, a horse! My kingdom for a horse! he cries.



Who said bankers and accountants are undramatic? The intrigues are just too much. Again PKF, the Maricruz of Kenyan accountancy is involved.

From the nature of the 2012 email exposure, the whistleblower is a person knowledgeable in the workings of the bank, regulatory framework, with nothing to lose and very disgruntled.

Those in the industry may know that a number of Senior staff (Non equity partners, directors) left PKF in 2012. The fact that senior PKF Partners Atul Patel, Atul Shah, Rajan Shah ( the defacto owners) are implicated may just shorten the trail, in case CBK or the directors of IBL wish to reward the whistleblower.

owaahh wrote:


This knowledge worked perfectly on the man who led the audit firm that should have called the cops on him. During the day, Atul Shah worked and still works as the CEO of PKF, one of the top-tier audit firms in the world. IBL’s books passed through PKF’s hands and all their reports came out clean in those 14 years. They even gave the bank a clean bill of health months before the story broke.



In at least two companies, one of them Mundika Sugar Company and the other, Astonfield Ltd., the MD of Imperial Bank and the man who was supposed to audit him were equal partners. Astonfield had an unsecured, unauthorized loan of Kshs. 263 million at the time of Abdulmalek’s death. One company profile only defined the CEO of the auditing firm PKF, Atul PK Shah as A well-accomplished consultant in the region and has wide range of reputable corporates on his client list. It was a vague description, meant to be as ambiguous as possible. In news stories, this connection would disappear in the details, with Atul Shahs full name written out to appear as if it was someone else.

But it gets even stranger. In digging through Abdulmalek’s lists upon lists of special loans, the name ‘Rajan Shah’ appears among borrowers with unsettled loans. Rajan was the partner at PKF in charge of handling Imperial Bank. The loan itself, amounting to Shs. 2.995 million was actually given in 2006 and was never repaid. Abdulmalek, again being a diligent banker and an investor in human relationships, kept a record of it for nearly a decade. Since it was never paid, and never recalled, it seems to have been the thread that kept the auditing firm churning out clean bills of health.

It was genius.
Abdulmalek had long figured that the only way to beat the system was to rope it in. Even if anyone within the audit firm ever found the hole, that story would never make it out. The strange email from 2012 most likely came from an auditor, internal or external or staff whose conscience had gotten the best of. In either case, the reason was that it was impossible to go through the normal channels.

Life is short. Live passionately.
Appz
#253 Posted : Monday, February 22, 2016 9:09:32 AM
Rank: Hello


Joined: 12/18/2015
Posts: 6
The sack of imperial bank: The genesis of its down fall

http://owaahh.com/the-sa...of-imperial-bank-part-3/
Robinhood
#254 Posted : Monday, February 22, 2016 9:37:48 AM
Rank: Elder


Joined: 12/11/2008
Posts: 2,306
Wa! wa! even Mr & Mrs Prof...
Great men are not always wise, neither do the aged understand judgement...
timuka
#255 Posted : Monday, February 22, 2016 10:26:01 AM
Rank: Member


Joined: 1/21/2013
Posts: 427
Jump-steady
#256 Posted : Monday, February 22, 2016 3:17:25 PM
Rank: Member


Joined: 12/1/2008
Posts: 875
Robinhood wrote:
Wa! wa! even Mr & Mrs Prof...



Sad Sad Sad

In Kenya anyone can be bought or soldsmile
majimaji
#257 Posted : Monday, February 22, 2016 3:49:15 PM
Rank: Veteran


Joined: 4/4/2007
Posts: 1,095

Can we expect EACC to do nothing?
sparkly
#258 Posted : Monday, February 22, 2016 7:19:19 PM
Rank: Elder


Joined: 9/23/2009
Posts: 5,402
Location: Enk are Nyirobi
Jump-steady wrote:
Robinhood wrote:
Wa! wa! even Mr & Mrs Prof...



Sad Sad Sad

In Kenya anyone can be bought or soldsmile


I don't see any problem when the Governor's wife takes a spa recommendation from a banker, or the fact that the banker pays for the spa.

This is immaterial.
Life is short. Live passionately.
Kusadikika
#259 Posted : Monday, February 22, 2016 9:10:43 PM
Rank: Veteran


Joined: 7/22/2008
Posts: 1,401
With all this information that is now public knowledge what more information does the police need to arrest and the DPP to prosecute all those PKF guys. This processes should run parallel, these guys should be in court even as CBK continues to do what it has to do. I agree with Miguna the DPP is the most useless, most incompetent office in the fight against corruption......... but then again he is probably using the same presidential logic that says since the CBK is investigating the matter I do not to create a constitutional crisis by arresting other officers involved.
muandiwambeu
#260 Posted : Monday, February 22, 2016 10:20:41 PM
Rank: Member


Joined: 8/28/2015
Posts: 629
sparkly wrote:
Jump-steady wrote:
Robinhood wrote:
Wa! wa! even Mr & Mrs Prof...



Sad Sad Sad

In Kenya anyone can be bought or soldsmile


I don't see any problem when the Governor's wife takes a spa recommendation from a banker, or the fact that the banker pays for the spa.

This is immaterial.

Some people fail to live fully coz of failure to find the disconnect between real life and ideal living. If you find your young man receiving presents from your neighbours wierdo girl do not just say it is a valentines gift. Inaweza kuwa bidii uko juu. Utajua SAA ngapi na uko busy pia.Applause Applause Laughing out loudly Laughing out loudly
,Behold, a sower went forth to sow;....
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