Capital Markets Authority has identified the son-in-law of the late powerful minister Nicholas Biwott as the missing link in the insider trading case at oil marketing firm Kenol/Kobil.
Charles Field Marsham is among the three individuals being investigated by the Capital Markets Authority (CMA) following accusations of insider trading. The suspect's deals gifted the conspirators almost Sh458 million on stock tips.
Charles, a Canadian entrepreneur, married to the daughter of the late minister Nicholas Biwott Rita Field-Marsham. Rita, who is a lawyer and humanitarian rejected her share of father’s multi-billion estate but did not give reasons. Rita was among seven children who were given one-fourteenth of Biwott’s share in the will of the late politician.
Charles owns and is the chairperson of Kestrel Capital, a leading investment bank and broker in Kenya. Kestrel Capital Executive Director Andre DeSimone and their stockbroking agent Aly-Khan Satchu are also on the regulator's radar regarding insider trading at Kenol/Kobil.
He is also the founder of Kestrel Capital Management Capital (KCMC), which provides strategic, investment and management consulting services to his businesses outside Canada.
Charles founded the Panafrican Group in 1996. The group is an exclusive distributor of Komatsu equipment Kenya and other five countries across East and West Africa.
The Canadian also owned Kenya Fluorspar Company (KFC) from 1997 to 2018 when the government repossessed it from him after its lease expired. The mining company suspended its operations in 2016, citing a higher cost of operations and loss of key markets in Asia and Europe.