Connect with us

Hi, what are you looking for?

Cyprian Is Nyakundi

Business

Former Scandal-Ridden Chase Bank Chairman Mohammed Zafrullah Khan Still Rafiki Microfinance Chairman

Former Chase Bank chairman Zafrullah Khan. An Internal document has revealed that he is also the Rafiki Microfinance Chairman. 

Former Chase Bank chairman Mohammed Zafrullah Khan is still the chairman of Rafiki Microfinance, an internal source has whispered to us. Zafrullah Khan was charged with conspiring to defraud Chase Bank of Sh1,683,000,000, in the year 2017.

At the same time, Khan was also charged with several counts of stealing from Chase Bank and one count of failing to comply with provisions of the Proceeds of Crime and Anti-Money Laundering Act. The former Chase Bank boss also faced an alternative charge of failing to report suspicious transactions.

The Kenyan banking industry is deeply rotten with the Central Bank of Kenya Governor, Patrick Njoroge playing a game of musical chairs in regulating the industry. The Parliamentary accounts committee( PAC), in 2016, found that Njoroge had masterminded the National Youth Service scandal because the game of adding zeros was done by CBK officials under his command. PAC recommended an investigation by the Directorate of criminal investigations and prosecution but the then DCI boss Ndegwa Muhoro was compromised.

According to the internal document in our possession, Rafiki Microfinance customers should start getting worried. Duncan Kabui is also the Rafiki Microfinance Director.

Internal document shows that Rafiki Microfinance is former Chase bank management reloaded. Their official website does not list these guys. 

Duncan Kabui, together with others, James Mwaura Mwenja and Makarios Omondo Agumbi were arraigned in court and charged with conspiracy to defraud the bank of over Ksh 1.6 billion.

The prosecution read that between August 28, 2009 and March 31, 2016 at Chase Bank headquarters in Nairobi, jointly with another not before court conspired with intent to defraud Chase Bank Limited by means of falsely pretending that the disbursement of Ksh 1.6 billion they effected from internal account of Chase Bank to the accounts of Camelia Investments Limited, Cleopatra Holdings Limited, Golden Azure Limited and Colbrook Holding Limited were genuine loan facilities to the entities and were disbursed in the ordinary process of loan process flow.

Duncan Kabui Gichu also faced three other counts of stealing over Ksh 3 .1 billion from the said bank. This website also run an expose detailing how Kibui had invested the money he stole from chase bank but the relevant authorities did nothing.

Questions remain as to why these guys are still running affairs at Rafiki Microfinance and why Muthaura’s son at Capital Markets Authority prefers watching porn in office, and jerking instead of going after these criminals.

Most recent communication by one of the managing director Ken Obimbo

Cyprian Nyakundi is a Kenyan-based blogger who has an interest in politics, governance, corporate-fraud and human-interest stories. Kindly drop me a note if you feel aggrieved on any matter that you would want to be highlighted. WhatsApp: +254710280973 Email : [email protected], or [email protected][email protected]

Follow me on Gab.ai and Facebook 


Would you like to get published on this Popular Blog? You can now email Cyprian Nyakundi any breaking news, Exposes, story ideas, human interest articles or interesting videos on: [email protected] Videos and pictures can be sent to +254 710 280 973 on WhatsApp, Signal and Telegram.


Comments

comments

Click to comment

Facebook

You May Also Like

News

*Editor’s Note: This open letter to Safaricom has been published as received. No redactions have taken place to avoid legal issues pending a court...

News

This is an intervention for Victoria Rubadiri so as to help her revert back to factory settings. We notice your slow drift away into...

News

Caption : Edwin Kigen Who was Murdered in Madaraka Estate. We demand for answers from Boinnet ! Another young man may have been brutally assaulted and...

News

CAPTION: Reformed street-urchins like this lot are dominating the airwaves and being allowed to spread the disease of anti-intellectualism.  As you may have all...

Copyright © 2020 Cyprian Is Nyakundi.