Kidero Fails to Block Capital Markets Authority Investigations over Mumias Sugar

Kidero Fails to Block Capital Markets Authority Investigations over Mumias Sugar

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Former Nairobi governor Evans Kidero has failed to stop the Capital Markets Authority (CMA) from probing his accounts in relations to his stint as boss at the Mumias Sugar Company.
High Court Judge, Lady Justice Hedwig Ong’udi declined to block Capital Markets Authority ruling that Kidero had not provided evidence that the regulator was acting against the law.

She said that although the former governor had claimed he was singled out from the rest of the former Mumias board members, he never asked his former colleagues to either testify or file an affidavit to affirm his claim.

According to the Judge, CMA had told the court that it was probing all former Mumias directors.

“It is clear that the petitioner did not properly and with the required precision demonstrate how these rights were infringed by the second respondent (CMA) herein. He simply quoted the provisions  of the Constitution but did not precisely or sufficiently demonstrate by way of evidence how those rights were infringed by the second respondent,” said Justice Ong’udi.

In the case, Kidero had sued former CMA boss Paul Muthaura, the regulator, Director of Public Prosecution, Inspector General of Police and Attorney General. He stated that on October 23, 2015, CMA wrote to him, requiring that he appear for interview concerning his tenure as Mumias managing director.

The former Nairobi governor told court the interview with CMA auditors did not yield any issue of fraud concerning use of Mumias’ money.
Fast forward to 2017, CMA wrote to Kidero again, informing him that it was to probe his personal bank accounts from 2006 to 2016.

The investigation was to be conducted by the Directorate of Criminal Investigations.


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