Four ex-directors and a serving director of micro lender Real People Kenya Ltd (RPKL) now face sanctions from the Capital Markets Authority (CMA) after a tribunal rejected their bid to block a disciplinary hearing for their roles in the illegal diversion of the proceeds of a Sh1.6billion bond to South Africa about nine years ago.
The Capital Markets Tribunal dismissed an appeal by the four ex-directors— Norman Ambunya, Daniel Ohonde, Nthenya Mule, and Charl Kocks— who had sought to block CMA’s Ad Hoc committee from proceeding with the hearings on the matter.
