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Chase Bank now sues former bosses for stealing Sh14 billion

L-R: Chase Bank former chairman Zafrullah Khan, lawyer Cecil Miller and former Chase Bank group MD Duncan Kabui during a hearing with the National Assembly Finance Committee on June 9, 2016. FILE PHOTO | DIANA NGILA | NMG

By  Brian Wasuna

Business Reporter

Nation Media Group

Troubled Chase Bank has sued its former chairman and former senior managers seeking to recover billions of shillings they are accused of illegally siphoning from the lender during their more than a decade at the helm.

The bank, in a suit filed through its lawyer Philip Murgor, says former chairman Zafrullah Khan, former managing director Duncan Kabui, former general manager corporate assets James Mwaura and former general manager finance Makarios Agumbi used their positions to illegally acquire and benefit from the bank’s assets it now seeks to recover.

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