A former Mumias Sugar executive has denied claims
that he opened an account that was operated by only
four directors of the company in a deal that saw
Sh1.2 billion lost.
While responding to a suit filed by the company, Mr
Chris Chepkoit, who was the finance director, denied
allegations that he had contacted Dubai Bank to open
an account in order to effect an agreement to import
Mr Chepkoit argued that the board's role is oversightsugar through a firm called Dantes Peak Limited
while that of management is to carry out policies and
execute set strategies hence requesting funds from a
bank was not their responsibility.
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