Ngumi Secures Court Order Halting Arrest
The High Court has prohibited the anti-corruption agency from arresting or detaining investment banker John Ngumi.
Mr. Ngumi rushed to court because he was under investigation by the Ethics and Anti-Corruption Commission (EACC) for the alleged theft of Sh6 billion.
He informed the court that he faced imminent arrest and prosecution. Which would jeopardize his status as one of Kenya’s most renowned bankers.
“Pending the hearing and determination of this application, the respondents, their servants, and agents, including law enforcement, are restrained from arresting, detaining, or harassing the applicant,” said High Court judge Diana Kavedza.
The judge ordered the banker to post a Sh500,000 personal bond. And appear before the EACC with his attorney as soon as possible for questioning.
The judge stated, “The applicant must cooperate with the officers during the investigation period.”
In the court documents, he has also been named Director of Public Prosecutions Noordin Haji.
Mr. Ngumi stated in a court-filed affidavit that the investigations into the alleged theft are focusing on individuals deemed to be close to former president Uhuru Kenyatta, including himself.
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Moreover, he claims he has been the target of a sustained malicious media campaign designed to incite public outrage.
The judge stated, “Having carefully reviewed the application, the supporting affidavit, and the attachments, I am satisfied that the application has established a case for anticipatory bail pending arrest.”
She ordered the hearing to take place on May 23.
The Finance and National Planning Committee and the Communication, Innovation, and Information Committee of Parliament are investigating Telkom Kenya’s acquisition.
Mr. Ngumi testified before the committees about his role in advising the government on the acquisition.
In August of last year, the government paid Helios Investors LLP Sh6.2 billion through Jamhuri Holdings Ltd. Its Special Purpose Vehicle, without the approval of the National Assembly.
The investment banker was compensated $3.07 million by Jamhuri Holdings. A Mauritius-based firm for Helios’ stake in Telkom Kenya. For advising the private equity fund on its exit from the telecommunications company.
Ngumi Secures Court Order Halting Arrest
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