A commissioner of the Insurance Regulatory Authority(IRA), statutory Manager Policy holders Compensation Fund(PCF) and a trustee of Blue shield towers have been charged with attempted fraudulent disposal of property held under trust.
Commissioner Sammy Mutua Makove and PCF manager John Sifa Keah and trustee are accused of attempting to dispose off the said property which was not authorised by the statutory management body and whereas a moratorium was in place.
The two are alleged to have committed the offence on diverse dates between 5th July 2015 and 31st July 2016 at the Blue Shield towers with intent to defraud.
Keah is also charged alongside another statutory Manager to Blue shield Insurance Company limited, Eliud Muchoki Muriithi with stealing Sh10,295,428, the property of the said company under the statutory management which got into their possession by virtue of their employment.
They are alleged to have committed the offence on diverse dates between 16th September 2011 and 3rd July 2014.
The accused persons denied the charges before Senior Principal Magistrate Kenneth Cheruiyot and were released on a cash bail of Sh 100,000 each.
