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I have suffered enough for role in scam, ex-CMC boss tells court

CMC Holdings showroom. Sobakchand Shah now says the CMA should not be allowed to pursue further sanctions against him. PHOTO | FILE

Former CMC Motors finance director Sobakchand Shah has asked the High Court to dismiss the Capital Markets Authority’s application for stiffer penalties against him for his role in the 2012 financial scandal in the company, arguing that he has been punished enough.

Mr Shah says in court filings that his disqualification from holding directorship in any public listed company and the Institute of Certified Public Accountants of Kenya’s (ICPAK) Sh70,000 fine was enough punishment for his role in the scandal that nearly brought down the motor firm.

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