Why did W.E Tilley receive tens of millions of shillings every week from Imperial Bank’s JanMohammed.

Posted on November 10, 2015


The puzzle on the passionate connection between W.E Tilley (Muthaiga) and Imperial Bank deceased MD Abdulmalek Janmohammed continues weeks after the bank was placed under the care of the Central Bank of Kenya.wpid-img-20151027-wa0041.jpg

What was the arrangement? What was the money intended for? How long could this have gone on? These are some of the questions both CBK and Imperial Bank of Kenya directors are grappling with.

wpid-img-20151108-wa0031.jpgNew evidence shows that the fish company received millions of shillings every week, signed off by Mr Janmohammed. The funds transfer was executed on hand written instructions by the deceased to his head of credit  Naeem Shah. It is out of this amount that W.E Tilley has agreed to refund Sh10 billion to the bank.

The elaborate scheme evidence indicated started in 2002 and continued a month after Mr Janmohamed passed on. The network involved key senior managers who are now on suspension. The network worked in desecrate manner covering their tracks in the wake.

Initially, the withdrawals instructions were documented, before Janmohammed moved to hand written notes on the same. Mr Janmohammed was the founding CEO of the bank and the only executive director. This perhaps explains how he managed to keep the other directors and shareholders in the dark.

According to sources, the senior staff also benefited substantially from these parallel banking system that has seen close to Sh12 billion traced to their accounts collectively. Even if they had chosen to forsake their boss in death, the trap for the senior managers was laid bare days after his cremation.

Documents filed in court by the directors traced a fictitious bank account the deceased operated which received and shipped out over Sh3 billion after his death. This could have only happened with his backers on ground. wpid-img-20151108-wa0029.jpgwpid-img-20151108-wa0030.jpg

Already, the directors of Imperial Bank have moved to court to freeze assets of Mr Janmohammed,his close relatives as well as those of W.E Tilley. This they hope will help them recover in excess of Sh34 billion siphoned. Among the assets and accounts frozen include property and parcels of land.

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