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Bosses schemed to loot bank, says CMA

National Bank of Kenya lost money to scheme sanctioned by its management, according to Capital Markets Authority. [File, Standard]

The bosses of the National Bank of Kenya made deals to enable them to siphon billions while at the same time hiding from the public the lender’s true state, an affidavit filed in court has said.

The scheme involved fictitious firms drawing blank cheques and back-dating of money from property sales.

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