The four former Britam executives argue that the move would bog down progress in four other commercial cases before the High Court.
The four have further said in their suit papers that proper investigations have not been done by the police to warrant their arrest.
Britam has sued the four former employees along with firms Acorn, Cytonn and nine of their subsidiaries in a bid to recover Sh3.9 billion allegedly transferred illegally from its accounts.
The High Court has issued orders stopping the arrest and prosecution of four former Britam employees who were expected to appear before the Chief Magistrate’s court Friday over the alleged theft of Sh3.9 billion.
Edwin Dande, Elizabeth Nkukuu, Patricia Wanjama and Shiv Arora Thursday filed a suit seeking to stop their prosecution over the matter, arguing that the move would bog down progress in four other commercial cases before the High Court.
The four have further said in their suit papers that proper investigations have not been done by the police to warrant their arrest.
They were expected to appear before the Chief Magistrate’s court Friday to take a plea on the accusations made against them.
“I hereby direct the Inspector General and the Director of Criminal Investigations not to arrest, harass or in any way interfere with the applicants’ properties pending the determination of this suit,” said Justice George Odunga.
Britam has sued the four former employees along with firms Acorn, Cytonn and nine of their subsidiaries in a bid to recover Sh3.9 billion allegedly transferred illegally from its accounts.
Mr Arora, Ms Nkukuu and Ms Wanjama were last Friday arrested over the alleged transfer of Sh3.9 billion from Britam accounts to Acorn’s. They were, however, released on Saturday morning.
The suit comes as Justice David Onyancha is set to rule on whether to extend orders freezing bank accounts linked to special purpose vehicles (SPVs) that real estate firm Acorn says were set up in partnership with Britam.
The High court has also barred Acorn and Cytonn from transferring the disputed funds and developing any of 10 planned real estate projects until November 12 when the case will be heard.
