Diamond Trust Bank in the spotlight

Diamond Bank Kenya which is associated with His Highness the Aga Khan, is in the spotlight over claims of money laundering only a few months after it was fined Sh162 million by the Central Bank of Kenya for being used as a conduit by suspects in the multibillion shillings National...

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Panic as 5 bank CEOs face arrest

Panic has gripped five banks as top managers are to face criminal charges of violating anti-money laundering act No. 9 of 2009. By late last week, the managers of the said banks were busy engaging legal minds to find a middle ground in handling the case. One of the options...

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Iranian ambassador involved in gold smuggling scandal

Iranian ambassador to Kenya Hadi Farajvand is in the eye of the authorities over reports that he is involved in gold smuggling from the Democratic Republic of Congo and Ghana. The envoy is in the spotlight over the movement of unusually huge amounts of money which pointed to the illicit...

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Car importation racket hits Kisumu

A Kisumu based Asian tycoon dealing in motor vehicle importation wants anti-terrorist police to monitor over 200 vehicles which were illegally imported in the country by his rivals allegedly using his company’s forged documents. The proprietor of Al-Hyder Trading Company Shoktar Ali says that he is living in fear that...

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Who will succeed Kittony at KNCCI?

There is intense lobbying and under the carpet for key positions at Kenya National Chamber of Commerce and Industry ahead of the national polls slated for May this year. A number of candidates have started their campaigns in earnest for various seats. Those eyeing the national chairmanship slot currently held...

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Oriental Insurance set to be auctioned

Share Pin Email Kenya Orient Insurance Ltd one of the oldest insurance companies in Kenya is set to face the hammer. According to documents in our possession, Daniel Kinyanjui Kangethe, was involved in a traffic road accident on December 13 2011 along Mwiyoko-Githurai 45 road near Jumbo supermarket when a...

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Collapsed Dubai Bank boss hires goons

The chairman of the collapsed Dubai Bank Zubedi Hassan is reportedly embroiled in a do-or-die ownership dispute over a land occupied by Giantmark Trade Exhibition leased to city trade proprietor Peter Muoki. The new four-year business deal that saw over 100 traders parade clothes, shoes, jackets, and other assorted fabrics...

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One time Mombasa tycoon Punjani in suicide bid

  Ali Badrudin Punjani popularly known as Ali Punjani has gone into hiding as auctioneers target his properties. Last week, he is said to have tried to commit suicide by jumping from a high storey building in Mombasa town but the move was thwarted. He is known to fly in...

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London Court fines Vimal Shah, ex-CBK boss billions

              Bidco chief executive Vimal Shah, ex-Central Bank governor Nahshon Nyagah and coffee farmer Stephen Mwagiru could face international sanctions before Christmas if they fail to pay close to Sh2 billion in damages to the major investors in the multi-billion-dollar Tatu City. After months...

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Vimal Shah camp suffers mortal blow in Tatu City wars

International investors in Tatu City have claimed a big win for the project, after years of battling with a faction led by Nahashon Nyagah, Steve Mwagiru and Vimal Shah. The trio have in the past been accused of leading a pack of wolves trying to wrest control of the project...

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