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Court puts off Sh18.5m CMA penalty slapped on Ciano

Former Uchumi Supermarkets chief executive Jonathan Ciano. PHOTO | FILE

The High Court has temporarily suspended payment of a Sh18.5 million penalty slapped on former Uchumi Supermarkets chief executive Jonathan Ciano by the Capital Markets Authority over alleged breaches while he was head of the troubled retail chain.

In a consent presented in court Tuesday, CMA agreed to stop enforcing the penalty pending hearing and determination of a case in which he had challenged the fine.

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