Three former Chase Bank directors have filed an appeal at the Capital Markets Tribunal to block regulatory fines against them for their role in alleged cooking of books and enticing investors to buy the bank’s Sh4.8 billion bond in 2015.
Laurent Demey and Rafiq Shariff who were fined Sh2.5 million each for their role in the issuance and use of the bond and Ken Obimbo, the former finance director who has been handed a Sh5 million fine, have filed to block their penalties at the tribunal.
