| Updated Thu, July 20th 2017 at 11:30 GMT +3NAIROBI, KENYA: Former Chase Bank officials have been arrested Thursday morning and expected to face fraud charges amounting to Sh1.6 billion. The three are Duncan Kabui (former CEO), James Mwaura and Makarios Agumbi who served the bank as General Managers. In June this year, the bank’s former Chairman Mohammed Zafrullah Khan was also arraigned in court over conspiracy to defraud the bank of similar amount. Khan pleaded not guilty to all the five criminal counts pressed against him. ALSO READ: Ex-Chase Bank chairman pleads with court to reduce his bond termsChase bank was placed under receivership for 12 months after experiencing liquidity difficulties leading to a loss of Sh686 million for the financial year 2015.

Source: Standard Digital July 20, 2017 08:26 UTC