CMA Pursues Biwott’s Kin In Ksh458 Million Petrol Dealings

The government, through the Capital Markets Authority (CMA), has turned its glare towards a kin of former minister, Nicholas Biwott, over a Ksh458 million petrol dealing.

According to the regulator, the son-in-law to Biwott, Charles Field-Marsham, the founder and chairman of Kestrel Capital, is reportedly the link that led to a reputable oil firm’s loss of the funds to insider trading.

Reports further claimed that Field-Marsham gave stock tips to his conspirators, a move that saw the firm, which is currently in the final stages of acquisition talks with a French company, lose millions.

He joins two other suspects, Andre DeSimone, the executive director of Kestrel, and a stock broker.

“Upon review of the investigation findings and recommendations, the CMA board has resolved to initiate enforcement proceedings against the Kestrel Capital Executive Director, Mr. Andre DeSimone, Kestrel Capital Chairman & Founder, Mr. Charles Field-Marsham, and their stockbroking agent, Mr. Aly Khan Satchu, through issuing Notices to Show Cause,” reported The Standard.

On January 30, CMA offcials raided the oil company’s offices as part of an investigation of insider trading in the company’s shares before the announcement of a Ksh35 billion takeover in 2018.

The investigations took course after the officers retrieved sensitive information of text, e-mails and WhatsApp messages from the electronic devices.

According to his job description, Field-Marsham, through his company, offers strategic, investment and management consulting services mostly to his business outside the country.

Field-Marsham is married to Rita Field-Marsham who is a daughter to the late minister. Rita reportedly rejected the share of her father’s vast wealth that was awarded to her after his passing.

She is a lawyer and a humanitarian worker.


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