The High Court has relaxed its freeze on the assets of a controversial businessman linked to the theft of Sh44.9 billion in the collapsed Imperial Bank, paving the way for Mauritian lender SBM Holdings to complete acquisition of the troubled Fidelity Bank.
The businessman, Firoz Jessa, is one of the shareholders in W. E. Tilley, a fish firm at the centre of the Sh44.9 billion Imperial Bank heist and the freeze of his Fidelity Bank stake had become a major stumbling block to SBM’s acquisition.
