When Mauritius-based Afrasia Bank placed $7.5 million (Sh967.5 million) in Chase Bank Kenya in March 2016, the lender expected the money back within 31 days under a routine fixed deposit deal.
Instead, the cash disappeared into the turmoil of Chase Bank’s collapse, triggering a nearly decade-long legal battle over whether the money was ever transferred to SBM Bank after the failed lender was taken over.
