By GALGALLO FAYO
Posted Thursday, June 6 2013 at 18:58
Posted Thursday, June 6 2013 at 18:58
In Summary
- Justice Weldon Korir on Thursday allowed Mr Mweni’s application to withdraw the ‘further affidavit’ and file amended documents in the next two weeks.
- CMA blacklisted Mr Mweni on December 21 last year on grounds that he was blocking investigations into a multi-billion-shilling bonds trading scam.
Blacklisted bonds dealer Fredrick Mweni has
withdrawn a sworn statement filed at High Court in which he claimed the
Treasury may have lost up to Sh2.6 billion through theft of bonds from
the Central Bank.
Justice Weldon Korir on Thursday allowed Mr
Mweni’s application to withdraw the ‘further affidavit’ and file amended
documents in the next two weeks.
Mr Mweni filed the document in support of a case
in which he is challenging the decision by the Capital Markets
Authority (CMA) suspending him from holding directorship in any listed
company.
“Applicant allowed to withdraw the further
affidavit sworn on April 29, 2013 and filed on May 3, 2013. The
applicant is granted leave to file amended further affidavit on the
respondents and the intended interested party within 14 days,” ruled
Justice Korir.
Mweni’s lawyer, George Kithi, said the amended
affidavit will have more evidence and reveal more information on the
theft allegations.
“We will file another affidavit which will be more detailed,” said Mr Kithi.
CMA blacklisted Mr Mweni, a former managing
director of Tsavo Securities, on December 21 last year on grounds that
he was blocking investigations into a multi-billion-shilling bonds
trading scam.
Mr Mweni was entangled in the bonds trading
scandal for his alleged involvement in trading of three bonds worth
Sh18.5 million, Sh9.5 million and Sh11.5 million.
But the trader claims that in suspending him,
while leaving all the other brokers and investors involved in the
scandal to continue operating, CMA’s actions were discriminatory against
him.
The Central Bank of Kenya (CBK) have since applied
to be enjoined in the case as interested party saying that the
allegations, if not challenged and responded to, can damage its
reputation irreparably.
CBK termed as “serious and spurious” allegations that its staff stole Treasury bonds worth Sh2.6 billion.
Mr Mweni is entangled in a web of cases emanating
from the alleged bonds theft. Two cases he has filed against the
regulators are pending before the High Court. The third case is before the magistrate’s court and involves his brother, Bokole Mweni, who is facing a criminal charge.
The list of brokers and investors named in the
withdrawn document to have handled the fake bonds includes Kestrel
Capital, Apex Africa Capital, Kingdom Securities and Afrika Investment
Bank.
The documents show Kestrel handled bonds on behalf
of Tsavo Securities while the other three firms handled bonds on behalf
of Manline Communications, which is accused of involvement in the sale
of separate Sh105 million worth of fake bonds.
A director of Manline communications is facing
criminal charges at the magistrate’s court alongside Bokole Mweni and
Moses Muregi. Mr Muregi, a Central Bank employee, is accused of creating
the fake bonds.
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