A stockbroker, who delayed crediting Safaricom #ticker:SCOM IPO shares into an investor’s CDS account, has been dealt a major blow after the court ordered him to pay the client Sh27 million in compensation.
High Court judge Olga Sewe ruled that Afrika Investment Bank Limited (AIB) must pay Dilesh Somchand Bid Sh8.9 million in compensation, plus an annual interest of 14 per cent beginning August 1, 2009.
