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Now Imperial Bank under receivership for 12 months
Pesa Nane
#281 Posted : Thursday, March 10, 2016 7:50:58 PM
Rank: Elder


Joined: 5/25/2012
Posts: 2,811
Location: 08c
enyands wrote:
Pesa Nane wrote:
enyands wrote:
Don't quote me but I'm meant to understand from a friend working at the watchdog somewhere that there is a bigger shocker on the way on one of banks . I like this Njoroge guy . I'm worried about him stepping on big boys shoes hence his safety . Iv always said we need someone with a different culture to run some institutions. Njoroge has been installed with "outside kenya culture" of doing things . maybe it's because the tempo hasn't been corrupted but I hope he will keep the tempo he got from his previous employer .we need such leaders but not leaders who ask him why he isn't married .

Shame on you Shame on you KE is not a banana republic


8c do you remember sometime last year I made some comments about I fear this guy and you mentioned that Kenya isn't a banana republic .Now my sources tell me both leaders in opposition and ruling mpigs have ganged and said he has to go and quit. They can't have someone who won't allow them to do business as usuall. It's coming in the papers .The sad thing is that they will make sure he goes . Wasted kenyan talent being told to go to street because he is just doing his job.Shafting continues ......

@enyands surely... safety=job security??
Pesa Nane plans to be shilingi when he grows up.
enyands
#282 Posted : Thursday, March 10, 2016 7:57:51 PM
Rank: Elder


Joined: 12/25/2014
Posts: 2,218
Location: kenya
Pesa Nane wrote:
enyands wrote:
Pesa Nane wrote:
enyands wrote:
Don't quote me but I'm meant to understand from a friend working at the watchdog somewhere that there is a bigger shocker on the way on one of banks . I like this Njoroge guy . I'm worried about him stepping on big boys shoes hence his safety . Iv always said we need someone with a different culture to run some institutions. Njoroge has been installed with "outside kenya culture" of doing things . maybe it's because the tempo hasn't been corrupted but I hope he will keep the tempo he got from his previous employer .we need such leaders but not leaders who ask him why he isn't married .

Shame on you Shame on you KE is not a banana republic


8c do you remember sometime last year I made some comments about I fear this guy and you mentioned that Kenya isn't a banana republic .Now my sources tell me both leaders in opposition and ruling mpigs have ganged and said he has to go and quit. They can't have someone who won't allow them to do business as usuall. It's coming in the papers .The sad thing is that they will make sure he goes . Wasted kenyan talent being told to go to street because he is just doing his job.Shafting continues ......

@enyands surely... safety=job security??


The two are friends Laughing out loudly


There is .didn't know they had it in media

duale against opus
murchr
#283 Posted : Wednesday, March 23, 2016 11:53:50 PM
Rank: Elder


Joined: 2/26/2012
Posts: 10,446
Two former managers of troubled Imperial Bank and three directors of a private company accused of receiving a large proportion of stolen funds from the lender were Wednesday charged with theft at a Nairobi court.
"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
.
Mainat
#284 Posted : Thursday, March 24, 2016 7:42:23 AM
Rank: Veteran


Joined: 11/21/2006
Posts: 1,579
dunkang
#285 Posted : Thursday, March 24, 2016 8:18:42 AM
Rank: Elder


Joined: 6/2/2011
Posts: 4,690
Location: -1.2107, 36.8831
Want to know how greed looks like...
Receive with simplicity everything that happens to you.” ― Rashi

kryptonite
#286 Posted : Thursday, March 24, 2016 8:25:48 AM
Rank: Member


Joined: 2/1/2010
Posts: 262
Location: Nairobi
dunkang wrote:
Want to know how greed looks like...



Wameshiba
The harder you work, the luckier you get
Swenani
#287 Posted : Tuesday, May 24, 2016 3:38:57 PM
Rank: User


Joined: 8/15/2013
Posts: 11,105
Location: Vacuum
Auditors earn 1.4 birrion in 7 months
"If you're tired of arguing with strangers on internet, try talking to one of them in real life"-Barack Obama 10th January 2017
Othelo
#288 Posted : Tuesday, May 24, 2016 3:47:13 PM
Rank: User


Joined: 1/20/2014
Posts: 3,522

There are no Local/Kenya firms that can do this? They should have given @Obi this job!!!
Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
KulaRaha
#289 Posted : Tuesday, May 24, 2016 3:49:10 PM
Rank: Elder


Joined: 7/26/2007
Posts: 5,650
Othelo wrote:

There are no Local/Kenya firms that can do this? They should have given @Obi this job!!!


Locals are easily bought...
Business opportunities are like buses,there's always another one coming
penkon
#290 Posted : Tuesday, May 24, 2016 4:41:21 PM
Rank: New-farer


Joined: 3/12/2014
Posts: 59
kryptonite wrote:
dunkang wrote:
Want to know how greed looks like...



Wameshiba



All fees quoted by FTI do not include value-added tax or any other relevant levies, which must be borne by their clients — in this case the shareholders.

watakonda
washiku
#291 Posted : Wednesday, July 20, 2016 12:28:02 PM
Rank: Chief


Joined: 5/9/2007
Posts: 12,109
washiku
#292 Posted : Wednesday, July 20, 2016 12:32:31 PM
Rank: Chief


Joined: 5/9/2007
Posts: 12,109
FRM2011
#293 Posted : Saturday, October 01, 2016 2:23:39 PM
Rank: Veteran


Joined: 11/5/2010
Posts: 1,115
[quote=Appz]The sack of imperial bank: The genesis of its down fall

http://owaahh.com/the-sa...f-imperial-bank-part-3/[/quote]


@owaahh has done the latest in the imperial bank drama.

http://owaahh.com/sack-imperial-bank-epilogue/

ION will our media ever achieve this level of writing ?
murchr
#294 Posted : Tuesday, October 11, 2016 6:02:53 AM
Rank: Elder


Joined: 2/26/2012
Posts: 10,446
Remember these tears




Imperial Bank’s principal shareholder and chairman Alnashir Popat used ghost accounts to move depositor funds that were then used to pay his foreign currency loans, newly released information on insider dealings that led to the lender’s collapse shows.


FTI Consulting, the US firm that conducted a forensic audit on the bank, says Mr Popat and his co-directors were direct beneficiaries of the scandal that was unearthed upon the sudden death last year of former Imperial Bank managing director Abdulmalek Janmohamed.

Imperial Bank’s receiver manager, the Kenya Deposit Insurance Corporation (KDIC), says in fresh court filing that the directors allowed use of fictitious accounts to facilitate transactions on their behalf and thereafter benefited from the said accounts.

It accuses the directors of allowing “settlement of foreign currency liabilities owed by Alnashir Popat, the first defendant, by way of funds transfer from
accounts linked to the fraudulent activity”. It is not clear from the court papers how much money of the depositor funds were used to settle Mr Popat’s debts.
The directors are further accused of “allowing use of fictitious customer accounts to facilitate transactions on their behalf, and thereafter benefiting from the said accounts and transactions, which accounts were used to conceal fraudulent activity at the bank.”
This is the first time that Imperial Bank directors have been directly linked to the mega theft, which has all along been attributed to Mr Janmohamed.
"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
.
FRM2011
#295 Posted : Wednesday, December 14, 2016 1:20:40 PM
Rank: Veteran


Joined: 11/5/2010
Posts: 1,115

A very well written piece fromm jaindi kidero.

http://mobile.nation.co....em-1-snqai8z/index.html

I still can't understand why its so hard to take action against the compromised guys from central bank.

Current governor doesn't seem interested in opening the skeleton cupboards inside cbk.
heri
#296 Posted : Wednesday, December 14, 2016 6:56:58 PM
Rank: Member


Joined: 9/14/2011
Posts: 489
Location: nairobi
FRM2011 wrote:

A very well written piece fromm jaindi kidero.

http://mobile.nation.co....em-1-snqai8z/index.html

I still can't understand why its so hard to take action against the compromised guys from central bank.

Current governor doesn't seem interested in opening the skeleton cupboards inside cbk.


So corruption is everywhere. And here we are buying shares not having an idea of whether the numbers being presented in financials statements are fabricated

Reading that article makes me think some of the investments in shares is just gambling and hoping for the best
Pesa Nane
#297 Posted : Wednesday, December 28, 2016 2:07:39 PM
Rank: Elder


Joined: 5/25/2012
Posts: 2,811
Location: 08c
Pesa Nane plans to be shilingi when he grows up.
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