Former Chase Bank Chair Zaf Khan Granted a 60 Million Bail

The Chairman of the now recovering Chase Bank of Kenya Zafrullar Khan has been granted a 60-million bail after spending days in custody to face economic crime offences.

Mr. Khan is accused of having defrauded Chase Bank of more than 1.7 billion shillings as well as defrauding Chase Bank depositors close to 6.9 billion shillings.

Chase Bank went under receivership for more than two weeks early in 2016 before being rescued from the woods by Kenya Commercial Bank.

The lender has since normalized its operations including issuance of loans to the customers.

 

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