WILFRED MUSAU (NBK CEO) and MOHAMED ABDIRAHMAN HASSAN (NBK Chairman) have ONCE AGAIN SWINDLED a SCREAMING KSH 240 MILLION from NATIONAL BANK in the name of Rights Issue, opening yet another chapter of WHITE COLLAR CRIME by board of directors of banks. This time round, they colluded with DYER & BLAIR INVESTMENT BANK
National bank directors have for so long walked around town making noise about their LOOMING RIGHTS ISSUE and granted, the noise has been too loud.
To the laymen, RIGHTS ISSUE IS A CASH-CALL to raise money by CASH-STRAPPED COMPANIES and is loosely defined as creation of new shares for the existing shareholders at discounted prices eventually diluting the original shares. We are not sure by what percentage the new NBK shares were discounted but it seemed more than 50%. This is because new shares were to be offloaded at about KSH 5.00 per share against the then prevailing market price per share for KSH. 10.00.
For any rights issue to take place, there must be the shareholders consent, but why? Because they must be convinced that the underlying reasons for the cash-call are GENUINELY GROWTH ORIENTED. National bank shareholders are primarily the Treasury and NSSF but in addition, Capital Markets Authority (CMA) as the regulator for the Capital markets are bound to be consulted in matters of Capital markets, with their approval required.
National Bank shareholders had approved the rights issue sometime in 2013 but we discovered that COMPETING SELFISH INTERESTS by board members and politicians permanently stood on the way of the institution’s “Growth” agenda. We are told that the Treasury would silently ask the CMA not to give a greenlight, but why? Allegedly, because the BOARD FAILED TO POLITICALLY STREAMLINE THE BENEFICIARIES (External Investors) of those new shares.
Remember after the rights issue approval, shareholders have the option to either Take up the right to purchase or surrender those rights to External Investors. (The intrigues surrounding the board and political warfare in regard to the rights issue is a story for our future series. So stay woke).
After the Shareholder approval and without CMA consent, National Bank board and its top management (under the stewardship of the renowned hybrid Muslim criminal and chairman of NBK, Hassan Mohamed, with Wilfred Musau as the face of the heist, much like a hired hitman) single-sourced Dyer & Blair Investment Bank as the contracted “Rights Issue” LEAD ARRANGER.
We all know Dyer & Blair is owned by JIMNAH MBARU, A CORPORATE CRIMINAL INDUCTED AS A BUSINESS MOGUL by fellow thieves. Jimnah Mbaru did not acquire his wealth in the cleanest of ways and we know he has the distinction of having been a key player in the embezzlement of Kenya National Assurance Company’s (KNAC) assets.
Jimnah Mbaru: Nairobi’s Senior Criminal in Economic Matters
But wait, there is more. When Mohammed Hassan (current NBK Chair) was the GENERAL “EMBEZZLEMENT” MANAGER for Dyer & Blair, they partnered with CFC-Stanbic Bank to defraud KSH 100 Million from an unsuspecting investor, John Kungu Kiarie who had innocently approached them for investment in a cocktail of stocks & securities.
To execute the heist, Hassan Mohamed (GM) working in cahoots with CFC-Stanbic Bank MANUFACTURED A NON-EXISTENT CBK ORDER FREEZING JOHN KIARIE’S ACCOUNTS. John Kiarie was informed by Hassan Mohamed that, because of the freeze, he could not access his account. He chose to forget that John Kiarie was a fairly knowledgeable former KCB Director, unlike him who was given a job he doesn’t understand. Long after they had eaten John Kiarie’s investment, Dyer & Blair was slapped with a court order in 2016 to not only pay back John Kiarie’s investment, but also pay it with the desired investment returns at an investment rate of 16% per annum compounded from the year 2003.
Hassan Mohamed was long gone and was busy executing criminal activities elsewhere (as the point man to Aden Duale in Money-Laundering matters), much like a cat that has stolen milk and busy LEAKING ITS WHICKERS with impunity not bothered about what the Milk owner thinks.
After the appointment of Dyer & Blair as the lead arrangers, Hassan Mohamed deceptively asked them to quote KSH. 240 Million as there service fees, KSH. 100 Million above what they initially quoted (KSH 140 Million). Dyer and Blair’s excuse for the escalation by KSH 100 Million would be that they had not factored the expected “marketing costs” and extensive documentations reminiscent with the exercise. For 100 Million Jameni?
Wilfred Musau together with his criminal Muslim partner (Hassan Mohamed) could then UNASHAMEDLY push for the KSH 240 Million payment to Dyer & Blair. As we speak, the money was long shared between Wilfred Musau & Hassan Mohamed because we all know the Rights Issue never happened for NBK.
For how long will National Bank be swindled? We already told you how REUBEN KOECH SWINDLED KSH 1.4 Billion in a mega deceit involving the bank’s Systems Upgrade.
Due to the mind-boggling SEXCAPADES by National Bank’s Management, we suspect they swindle to sustain their sinful ways and more so adultery. Lest you forget, we already talked about:
- Reuben Koech’s spermatology and we found out he is entirely not a rookie.
- Wilfred Musau, the serialized Sex Pet SCREWING EVEN A WIFE TO A VOCAL KIKUYU MPig.
Wilfred Musau fell in love with a TEA-LADY in National Bank because of the unforgiving size and shape of her juicy (Musau’s opinion) derrière. A woman from western Kenya you know!
After a very long period of an otherwise windy and steamy sexual experiences, Wilfred Musau hired the TEA-LADY. Never mind that women are employed as Tea-Ladies because that is what they learnt in School.
The PWC Report we talked about (and we will discuss in detail in our future series) did not only expose Wilfred Musau as an academic fraud. It also unearthed the qualifications of this tea-lady as having studied “Bachelor of Arts In Tea Production” in high school.
Now for the CURTAIN RAISERS which are subject to our immediate next discussion, we introduce to you the trailers (Not Movie Trailers):
- MUSA ADAN IS THE DIRECTOR OF ISLAMIC DOCKET. He is fond of asking for kick-backs and there is a customer who deposited KSH. 10 MILLION in his account. We will discuss this later with evidence.
- REUBEN KOECH IS THE DIRECTOR OF CORPORATE DOCKET. He solicited for a KSH 15 Million bribe from a customer in Mombasa to facilitate loan approval. The Milling Company only gave KSH 10 Million cash money in batches of 5M-3M-2M and recorded videos plus audios. He demanded the money in hard cash and the customer had limited options of recording this expense thus the video. Again, we will deliver this promise loaded with evidence.
- Arap Mashamba is preparing his protégé IAN RUTO (who is currently working with HHM Law-firm as a Partner) to be NBK Chair after the tenor of the Muslim criminal expires next year. Definitely, this has something to do with POLITICAL ALIGNMENT on the Rights issue and we shall discuss.
Recently, KOT digital reporters bumped into 3 Senior Partners from HHM Law-firm within the Industrial Court Corridors. And so they thought, for 3 partners to be present at the same time, there must be a Dinosaur in the courts. This rarity immediately excited curiosity out of them, and through one of the many dedicated court clerks, they sought to find out why: What they discovered was that they had come to push ONE OF THE INDUSTRIAL COURT JUDGES to expunge some documents from a court case where NBK is involved. Luckily for us, they managed to get copies before they were kept under lock and key.
TICK-TOCK, TICK-TOCK, Realize you don’t need a lot, Be content with what you got. Precious memories fade away, moving forward time Doesn’t wait. Wake up before it’s too late. Don’t regret the things you didn’t say, No one is guaranteed another day.
Heavenly Father, your son and our savior Jesus Christ came to weed out the works of Satan from the world. Through the power of the holy spirit, continue enabling us to work alongside our Savior in weeding out the injustices and corruption in our society, thus producing the fruits of righteousness and that Christ may be manifested in both our talk and walk until we burst-out all possible truths.