Another bank bite the dust.

[jakoyo]

Chicken coming home to roost.

[MOON Ki]

This is some serious eating:

The Central Bank of Kenya, which later said that one director had lent himself Sh7.9 billion mostly without registered collateral and well beyond regulatory limits, used some of the information to pile pressure on Chase Bank.

http://www.nation.co.ke/news/How-whistle-blower-letter-brought-Chase-Bank-to-its-knees/-/1056/3152818/-/9tl34d/-/index.html

And according to the story, the discovery was not a result of CBK's Njoroge being hard at work.  One wonders how much more would have been looted without the whistleblower.

[Real P]

This is some serious eating:

The Central Bank of Kenya, which later said that one director had lent himself Sh7.9 billion mostly without registered collateral and well beyond regulatory limits, used some of the information to pile pressure on Chase Bank.

http://www.nation.co.ke/news/How-whistle-blower-letter-brought-Chase-Bank-to-its-knees/-/1056/3152818/-/9tl34d/-/index.html

And according to the story, the discovery was not a result of CBK's Njoroge being hard at work.  One wonders how much more would have been looted without the whistleblower.

Not so startling to be honest, our current systems breed corruption by empowering the fraudulent and dishonest.

[Georgesoros]

Are banks in Kenya sound?
Given the fact that CBK was hiding Chase's malfeasance its time to look again.
Expecting MPIGS to call CBK and do their oversight duties on this is a very tall order.

This is some serious eating:

The Central Bank of Kenya, which later said that one director had lent himself Sh7.9 billion mostly without registered collateral and well beyond regulatory limits, used some of the information to pile pressure on Chase Bank.

http://www.nation.co.ke/news/How-whistle-blower-letter-brought-Chase-Bank-to-its-knees/-/1056/3152818/-/9tl34d/-/index.html

And according to the story, the discovery was not a result of CBK's Njoroge being hard at work.  One wonders how much more would have been looted without the whistleblower.

Not so startling to be honest, our current systems breed corruption by empowering the fraudulent and dishonest.