Kenya: State Probing CMC Accounts - Uhuru

4 November 2011

The board room wars at listed car dealer CMC found its way in Parliament yesterday where Finance Minister Uhuru Kenyatta said investigations were on to establish allegations of existence of offshore accounts. He said the probe would establish if some former directors were signatories for offshore accounts in Jersey said to be holding hundreds of millions siphoned from the company.

Uhuru' s announcement came as House as Speaker Kenneth Marende said the Parliamentary committee on Finance, Trade and Planning was at liberty to probe the controversies surrounding CMC. The Finance committee is chaired by Nambale MP Chris Okemo who the Island of Jersey is presently seeking to have extradicted alongside former KPLC boss Samuel Gichuru over alleged laundering of embezzled money in offshore bank accounts.

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