How Imperial Bank chief stole savers’ billions

Imperial Bank’s former managing director Abdulmalek Janmohamed ran an elaborate fraud scheme that robbed the lender of Sh34 billion over a period of 13 years, forcing the central bank to shut it down earlier this month.

Mr Janmohammed used a network of 20 companies and individuals to execute and cover up the mega fraud that shook Kenya’s financial services sector to the core after the regulators shut it down two weeks ago, citing risks to depositors’ funds.