Capital Markets Authority (CMA) investigators have seized KenolKobil #ticker:KENO CEO David Ohana’s mobile phone, laptop and computer in a raid at his offices. This is part of an ongoing investigation into suspected insider trading in the oil marketer’s shares ahead of last year’s announcement of a Sh35 billion takeover of the company.
Mobile phones and computers belonging to Andre DeSimone, the chief executive of stockbrokerage firm Kestrel Capital, and those of stock market trader Aly-Khan Satchu were also seized in simultaneous raids at their offices. The investigators carried out the raids on the morning of January 16. They are seeking to establish whether Mr Ohana tipped Mr Satchu of KenolKobil’s planned sale to French firm Rubis Energie before the information became public, sparking huge stock purchases that were placed through Kestrel Capital just days ahead of the deal’s announcement.
