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NCBA faults plan to prosecute chief executive on Sh363m fraud claims

NCBA Group Managing Director and CEO John Gachora during a media briefing to announce their half year financial result release at Radison Blu Hotel in Nairobi on August 24, 2023.

Photo credit: Lucy Wanjiru | Nation Media Group

By  Sam Kiplagat

Court Reporter

Nation Media Group

NCBA Bank has faulted the decision by Director of Public Prosecutions Renson Ingonga to prosecute its chief executive officer (CEO) John Gachora for allegedly failing to report suspicious transactions linked to the Sh363.3 million fraud at First Assurance Investment Ltd.

Mr Gachora and the bank argue that the charges are based on a flawed interpretation of the Proceeds of Crime and Anti-Money Laundering Act (POCAMLA) and its regulations.

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