David Ohana Sues KenolKobil

by Mahakamani News

Sacked KenolKobil managing director David Ohana has sued the corrupt company, demanding for a six months salary and other benefits, court papers that have been filed and received by the employment and labour relations court confirm. 

In the David Ohana Vs KenolKobil PLC Memorandum of claim, Ohana claims that he has worked for KenolKobil since the year 2002, rising through the ranks into the position of Managing Director.

Ohana is demanding for compensation that includes a salary of USD 28,000* 6 and other benefits since the company violated his rights. 

The former controversial MD resigned in the wake of an insider trading probe by the Capital Markets Authority (CMA) that happened ahead of a takeover of the oil marketer by French firm Rubis Energie

His successor was introduced to KenolKobil staff formal handover followed.

Mr Ohana was excused by the CMA from legal proceedings over the alleged insider trading that saw shares worth Sh6.1 billion traded prior to the announcement of Rubis takeover deal.

Also linked to the insider trading were stockbroking agent Aly-Khan Satchu and a former long-serving chief executive of stock brokerage firm Kestrel Capital East Africa, Andre DeSimone, who resigned early April 2019 under a cloud of ongoing investigations, ending his 24-year career at Kestrel.

The CMA had in October 2018 flagged as suspicious dealings in KenolKobil shares through 14 accounts. Mr Ohana was initially investigated for his role in the suspected insider trade dealings, but the CMA dropped the charges saying that findings had failed to “establish evidence of potential misconduct” on his part.

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