Officers of the Capital Markets Authority (CMA) seized the personal ICT devices (Mobile phones, laptops, and Desktop computers) of the KEnolKobil CEO David Ohana and other ranking officials after a raid at their offices.
The operation was conducted as part of an investigation of insider trading in the company’s shares before the announcement of a Ksh35 billion takeover in 2018.
Other parties targeted by the investigators included the CEO of Kestrel Capital Andre DeSimone and a stock market trader. The investigators claim Ohana tipped the CEO and the stock trader with the details of the sale.
The investigation continues to take the course after the officers were able to retrieve sensitive information of text, e-mails and WhatsApp messages from the electronic devices.
The bank that handled the transactions among the suspects also remains at the centre of the investigations.
CMA’s unprecedented move of employing mobile forensic evidence involving electronic data for litigation marks a major turning point in initiatives of prosecuting white collar crimes in Kenya.
In most cases, such approaches of investigations are employed in cases of dealing with organized crime, drug deals, and terrorism.
A search warrant obtained by CMA indicated, “Warrant hereby issued to enter the first respondent’s (Mr De Simone) premises, second respondent’s (Mr Satchu) premises, and third-second respondent’s (Mr Ohana) premises.”
The legal document also empowered the investigators to “Seize, obtain information and remove into the custody of its offices all documents and electronic devices including but not limited to mobile phones and laptops and computers and retain the same for a period of three days.”
The warrant document also threatened the suspects with possibilities of arrest.
