Billionaire targets CBK over Sh920m in Imperial account

MOMBASA, KENYA: A Mombasa based businessman Ashok Doshi is demanding over Sh920 million withheld in Imperial Bank since receivership in 2015.

Doshi has sued Central Bank of Kenya (CBK) and Imperial bank for withholding money he had deposited in six different fixed accounts

On Monday, Doshi accused CBK of failing to do its duty thereby allowing the directors of Imperial Bank to mismanage the institution

“I believed and had reason to believe that CBK was carrying out its mandate over Imperial Bank and acting in that belief, maintained dollar account and local currency account where I deposited with Imperial Bank USD 8,715,000.01 on fixed deposit to mature in December 2015 and a fixed deposit in local currency of Sh49, 163,359.59,” Doshi told Justice P.J. Otieno.

Doshi said that it took  the death of the then Managing Director and the newly appointed Board of directors for information to be disclosed that there was a scheme in the bank going undetected for the past 13 years.

“Had there not been disclosure, the same would have been brought to the fore by the collapse of Imperial Bank,” said Doshi.

He wants CBK to file a status of affairs of the Imperial Bank at its closure and current status.