Big blow to Prime Cabinet Secretary Musalia Mudavadi as Co-op, KCB and NCBA bosses secure court orders stopping their prosecution in the Sh363 million First Assurance saga.
Mudavadi and fellow shareholders had given the banks a 24-hour deadline to commit to refunding money prosecutors say was stolen from First Assurance by his business partner Salim Busaidy over a six-year period.
The banks refused to pay, questioning how money could allegedly be stolen by a company insider for six years, only for the banks to later be blamed and pressured to refund the entire amount.
State investigative and prosecution agencies under pressure from Mudavadi then moved against the CEOs after the CEOs refused to “cooperate”
