How Imperial Bank bosses stole billions from depositors

Former Imperial Bank managers, Naeem Shah and James Kaburu, were the key players in the multi-billion shilling fraud scheme that enabled long-serving chief executive Abdulmalek Janmohammed to siphon out depositor funds and use fictitious accounts to cover it up, a forensic audit report by American firm FTI Consulting says.

Imperial Bank’s receiver managers say in court papers that FTI’s investigators had found that Mr Shah, aside from authorising the transfer of funds between fictitious bank accounts, was also in charge of ensuring that fish firm W.E. Tilley did not appear in the lender’s financial records.