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Kenya’s Capital Markets Fraud Investigation Unit has issued arrest warrants for nine people suspected of obtaining millions of shillings by cashing Safaricom initial public offering (IPO) refund cheques through forging investor’s identities
It is alleged the nine colluded with bank officials to cash the cheques following Safaricom’s oversubscribed IPO in 2008.
Business Daily reports a charge sheet seen by the newspaper states Patricia Wanjiku Mwaura allegedly used the alias of Jane Patricia Mwaura and stole cheques worth KSh780,000 (US$9,000) while Ronald Asonga Khejeri used Evanson Kimememia Nderu as an alias and stole KSh551,000 (US$6,400) in 2008 from Standard Investment Bank.
Abraham Kiprotich Langat, who is also on the wanted list, allegedly used the alias Yussuf Agrippa, and also has cases pending at the Kericho, Milimani and Makadara law courts on 10 counts of forgery of share deposit forms.
The other six suspects were listed as “unknown”.