Ex Chase Bank Chair hit with heavy fines in dual landmark rulings

Former Chase Bank Chairman Mohaamed Zafrullah Khan in the dock at a milimani court where he was charge with conspiracy to defraund Chase bank by falsely pretending the disbursement of 1,683,000,000.[FILE/Standard]

Former Chase Bank Chairman Zafrullah Khan and two senior managers have been fined Sh11 million by the Capital Markets Authority (CMA), bringing to a close a legal dispute that has lasted nearly a decade in one of Kenya’s most notable corporate governance scandals.