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Brokerage firm employee arraigned in court for Sh66.8Mn theft

NAIROBI, Kenya, Aug 16 – A suspect has been arraigned at the Milimani Law Courts for allegedly embezzling Sh66.8 million from Kestrel Capital Brokerage Firm.

Abraham Kibet Too was arrested yesterday by the Capital Markets Fraud Investigation Unit in a case brought up by the Brokerage firm.

He pleaded not guilty and was released on Sh3 million cash bail as well as Sh4 million bond.

The case will be heard on September 4, 2017.

The Capital Market Fraud Investigations Unit was formed in May 2009 through collaboration by the Kenya Police and Capital Markets Authority tasked with detection, prevention, and apprehension of offenders perpetrating fraud within the Securities market.

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