How a disputed court order, billion-shilling trademark transfers, shareholder dilution and conflicting judgments in Nairobi and London turned one of Kenya’s biggest corporate success stories into one of its longest-running legal wars.
Read the full storyA road agency that has paid out billions for its own contractual sins, run for seven months by a man the High Court had just convicted of contempt, handed a Sh3 billion tarmac contract to an outfit with no comparable highway pedigree on the strength of a Chinese contractor’s name it stole and a stamp it forged. The whistleblower told them in March. They waited until a judge was watching in May.
A whistleblower dossier now in the hands of investigators in Tanzania and the Democratic Republic of Congo lays bare how East Africa’s biggest betting platform allegedly built a continent-wide financial crime operation from Nairobi’s Parklands. Investigations are active. The right of reply was sent. The silence that followed spoke louder than any denial could.
Charles Korgoren Kerich, for nearly a decade the most indispensable technocrat at Nairobi City Hall, is now a convicted contempt fugitive cooling his heels in America while Kenyan courts have issued an arrest warrant, a German investor suffered alleged death threats and a Sh52,000 credit card fraud linked to his business associates, and Sh65.3 million in cash was unearthed from under the nose of his departmental colleague. His story is Kenya’s impunity problem distilled into one man’s spectacular flight from accountability.
His explanation, delivered after the fact and only when journalists came calling, was that he had travelled out of the country on Wednesday evening.
The photograph in Wednesday’s Business Daily told its own story. There stood Capital Markets Authority Director Daniel Warutere and Nairobi Securities Exchange CEO Frank Mwiti, flanking I&M Group Executive Director Sarit Shah as they rang the bell for the listing of the bank’s Medium Term Note. Regulators and the family executive, smiling for the camera […]
New regulations require platforms to verify users’ ages, suspend underage accounts, and comply within 12 months
