Charterhouse Bank was started in 1996 and had many irregularities. some customers would routinely borrow as much as 20 times the cash they held and transact tens of millions of shillings into nameless accounts. They included Tuskys and Nakumatt with directors at Tusker Mattresses holding 75 different accounts at the bank. . Between 2004-06, audits by PwC, CBK and a govt Joint Legal Taskforce all found strong indications that the bank’s clients were involved in both tax evasion and money laundering. On 21st June 2006, the then shadow Finance Minister in the official opposition to the Kenya government, Billow Kerrow, tabled before Parliament a leaked report claiming that CHB had assisted Nakumatt to evade taxes estimated at Sh18bn over a six year period.
Nakumatt was no ordinary company. It more or less operated as one of the main cogs of a complex money laundering syndicate that had operated in the country for more than 30 years.
Kwa kifupi,hawaku nyoosha mikono kwa serikali ya baba jayden during campaigns,same thing happened to that chikuyu along langata road pia yeye alivunjiwa biachara. If you are still wondering what happened to the riparian lands,stop wondering,palms need to be greased
tightening the banking system will just make them move to kampala, DRC, seychelles, mauritius etc.They could have left some room and loopholes but wanapewa pressure na wabeberu yet the biggest Laundromats in the world are newyork and london.