Charterhouse Bank: Banking Operations Undermining the Law

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CASE STUDY. On 23 June 2006, the Central Bank of Kenya (CBK) announced that it had placed Charterhouse Bank (Charterhouse) under statutory management as a result of an ongoing investigation into banking operations at Charterhouse.

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Charterhouse Bank: Banking Operations Undermining the Law: Abstract

Charterhouse Bank: Banking Operations Undermining the Law by Chijioke Oji and Viola Makin describes how on 23 June 2006, the Central Bank of Kenya (CBK) announced that it had placed Charterhouse Bank (Charterhouse) under statutory management as a result of an ongoing investigation into banking operations at Charterhouse. The CBK led the investigation into Charterhouse over allegations of money laundering and tax evasion, which involved a sum of US$1.75 billion. By October 2012, the Charterhouse controversy had still not been resolved.

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The purpose of this case is to generate discussion and learning on ethics and corporate governance.

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