Nairobi, Sept. 7 -- An online currency trading company accused of operating illegally and defrauding Kenyans of millions of shillings tried to cut a deal with the Capital Markets Authority (CMA) to avoid prosecution.
Interweb Global Fortune Limited operated from the 14th floor of View Park towers in Nairobi before they were shut down after a crackdown.
CMA , through court documents, said it rejected Interweb Global's bid to withdraw the criminal charge and settle the licence hitch out of court.
The firm committed to refund million received from forex investors and stop tapping new clients until its obtains regulatory licence as a condition to CMA agreeing to the out-of-court settlement.
CMA turned down the deal on grounds that it would ...